Question
Horizontal analysis The comparative accounts payable and long-term debt balances for a company follow. Line Item Description Current Year Previous Year Accounts payable $64,688 $62,200
Horizontal analysis
The comparative accounts payable and long-term debt balances for a company follow.
| Line Item Description | Current Year | Previous Year |
|---|---|---|
| Accounts payable | $64,688 | $62,200 |
| Long-term debt | 28,560 | 40,800 |
Based on this information, what is the amount and percentage of increase or decrease that would be shown on a balance sheet with horizontal analysis? Enter all answers as positive numbers.
| Line Item Description | Amount of Change | Increase/Decrease | Percentage |
|---|---|---|---|
| Accounts payable | $fill in the blank 1 | IncreaseDecreaseIncrease | fill in the blank 3 % |
| Long-term debt | $fill in the blank 4 | IncreaseDecreaseIncrease | fill in the blank 6 % |
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Intermediate Accounting
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
18th Edition
9781119790976
