Question
Comparative information taken from the Bergeron Company financial statements is shown below: 2021 2020 (a) Accounts receivable $ 175,000 $ 140,000 (b) Retained earnings 30,000
Comparative information taken from the Bergeron Company financial statements is shown below:
| 2021 | 2020 | |||||
|---|---|---|---|---|---|---|
| (a) | Accounts receivable | $ 175,000 | $ 140,000 | |||
| (b) | Retained earnings | 30,000 | (14,000 | ) | ||
| (c) | Sales revenue | 855,000 | 750,000 | |||
| (d) | Operating expenses | 170,000 | 200,000 | |||
| (e) | Income taxes payable | 11,000 | 10,000 | |||
Using horizontal analysis, show the percentage change from 2020 to 2021 with 2020 as the base year. (Round answers to 0 decimal places, e.g. 20%. If answer is zero please enter 0, do not leave any fields blank.)
| Percentage change | |||||
|---|---|---|---|---|---|
| (a) | Accounts receivable | enter percentages | % | select an option Not possible to compute -Increase -Decrease | |
| (b) | Retained earnings | enter percentages | % | select an option IncreaseNot possible to compute -Decrease -increase | |
| (c) | Sales revenue | enter percentages | % | select an option Not possible to compute -decrease -increase | |
| (d) | Operating expenses | enter percentages | % | select an option Decrease- Not possible to compute -increase | |
| (e) | Income taxes payable | enter percentages | % | select an option Increase- Not possible to compute -Decrease | |
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Financial Accounting in an Economic Context
Authors: Jamie Pratt
8th Edition
9781118139424, 9781118139431, 470635290, 1118139429, 1118139437, 978-0470635292
