Question
Horizontal Analysis The comparative accounts payable and long-term debt balances for a company follow. Current Year Previous Year Accounts payable $31,540 $38,000 Long-term debt 43,050
Horizontal Analysis
The comparative accounts payable and long-term debt balances for a company follow.
| Current Year | Previous Year | |
| Accounts payable | $31,540 | $38,000 |
| Long-term debt | 43,050 | 35,000 |
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.
| Amount of Change | Increase/Decrease | Percentage | |
| Accounts payable | $fill in the blank 1 | IncreaseDecrease | fill in the blank 3 % |
| Long-term debt | $fill in the blank 4 | IncreaseDecrease | fill in the blank 6 % |
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Advanced Principles Of Auditing
Authors: Hugo Romero
1st Edition
1632409372, 978-1632409379
