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Comparative information taken from the London Antiques Corporation financial statements is shown below: 2022 2021 1 Notes receivable $80,000 $ -0- 2 Accounts receivable 182,000
| Comparative information taken from the London Antiques Corporation financial statements is shown below: | |||||||||
| 2022 | 2021 | ||||||||
| 1 | Notes receivable | $80,000 | $ -0- | ||||||
| 2 | Accounts receivable | 182,000 | 140,000 | ||||||
| 3 | Retained earnings | 49,000 | -40,000 | ||||||
| 4 | Sales | 930,000 | 750,000 | ||||||
| 5 | Operating expenses | 170,000 | 200,000 | ||||||
| 6 | Income taxes payable | 95,000 | 70,000 | ||||||
| Instructions | |||||||||
| Using horizontal analysis, show the percentage change from 2021 to 2022 with 2021 as the base year. | |||||||||
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Cost Accounting A Managerial Emphasis Revised
Authors: Charles T. Horngren, Monte Wynder, William Maguire, Rebecca Tan, Srikant Datar, Lester E. Heitger
1st Australian Edition
1442554770, 978-1442554771
