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.
Sales
Cost of goods sold
Accounts receivable
2024
$ 548,055
282,108
26,690
2023
$ 365,370
187,939
21,374
2022
$ 285,445
148, 677
19,553
2021
$ 195,510
100,710
11,476
2020
$ 147,000
74,970
10,040
Trend Percent for Net Sales:
numerator:
Denominator:
Trend percent
2024:
2023:
2022:
2021:
2020:
Is the trend percent for Net Sales favourable or unfavourable?
Percent for Net Sales:
numerator:
Denominator:
rint
ences
2024:
2023:
2022:
2021:
2020:
Is the trend percent for Net Sales favourable or unfavourable?
Trend Percent for Cost of Goods Sold:
numerator:
Denominator:
2024:
2023:
2022:
2021:
2020:
trend percent
Is the trend percent for Cost of Goods Sold favourable or unfavourable?
Percent for Accounts Receivable:
numerator:
Denominator:
Trend percent
2024:
2023:
2022:
2021:
2020:
Is the trend percent for Accounts Receivable favourable or unfavourable?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Essentials of Accounting for Governmental and Not-for-Profit Organizations
Authors: Paul A. Copley
10th Edition
007352705X, 978-0073527055
