Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

ho, i need the answer of this wuestion asap!!, thanks!!! Which of the following would be most likely to reveal that cost of goods sold

ho, i need the answer of this wuestion asap!!, thanks!!!
image text in transcribed
image text in transcribed
image text in transcribed
Which of the following would be most likely to reveal that cost of goods sold increased by $75,000 from 2016 to 2017? Select one: O a. vertical analysis O b. trend analysis O c. horizontal analysis O d. ratio analysis The following data represent selected information from the comparative income statement and balance sheet for Hot Rolled Corporation for the years ended December 31, 2017 and 2016: Cash Net accounts receivable Inventory Prepaid expenses Total current assets Total non-current assets Total current liabilities Total non-current liabilities Common shares Retained earings Net credit sales Cost of goods sold Gross margin Income from orations Interest expense Net income 2017 $ 10,000 30,000 43 000 5.000 88.00 112,000 2.000 40,000 60,000 30.000 370,000 150,000 220,000 95,000 8,000 70,000 2016 $ 15,000 25,000 40.000 7,000 87,000 114 60.000 45.000 60,000 36,000 160.000 173.000 87.000 57.000 10,000 shares of common shares have been issued and outstanding since the company was established, They had a market value of $0 per share on December 31, 2016, and they were selling for $91 50 on December 31, 2017 Refer to the table above. The debt ratio for Hot Rolled Corporation on December 31, 2017, was. Select one: a: 0.54 b.1.82 c.0.55 d. 87 If the bank records a deposit of $3,300 as $330, the error would be shown on a bank reconciliation as: Select one: O a. a deduction from the bank balance of $2,970 O b. an addition to the book balance of $2,970 O c. a deduction from the book balance of $2,970 O d. an addition to the bank balance of $2,970

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions