Question
Compute trend percents for the following accounts using 2020 as the base year. For each of the three accounts, state whether the situation as revealed
Compute trend percents for the following accounts using 2020 as the base year. For each of the three accounts, state whether the situation as revealed by the trend percents appears to be favourable or unfavourable.
| 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|
| Sales | $ 471,250 | $ 310,033 | $ 245,085 | $ 169,024 | $ 121,600 |
| Cost of goods sold | 242,788 | 159,667 | 128,293 | 87,852 | 62,016 |
| Accounts receivable | 22,809 | 18,168 | 16,739 | 9,905 | 8,293 |
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Passive Activity Loss IRS Audit Technique Guide
Authors: Internal Revenue Service
1st Edition
1304114325, 978-1304114327
