Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Sales Cost of goods sold Accounts receivable $ 598,123 295,530 28,830 $ 393,502 194,366 23,059 $ 325,208 162,802 22,342 $ 229,020 114,170 13,329 $
Sales Cost of goods sold Accounts receivable $ 598,123 295,530 28,830 $ 393,502 194,366 23,059 $ 325,208 162,802 22,342 $ 229,020 114,170 13,329 $ 173,500 85,015 11,867 Compute trend percents for the above accounts, using 2017 as the base year. For each of the three accounts, state whether the situation as revealed by the trend percents appears to be favorable or unfavorable. Trend Percent for Net Sales: Numerator: Analysis period not sales Denominator: Base year net sales 2021: 2020: 2019: 2018: 2017: Is the trend percent for Net Sales favorable or unfavorable? 2021: 2020: 2019: 2018: 2017: Numerator: Trend Percent for Cost of Goods Sold: Denominator: Analysis period cost of goods sold Base year cost of goods sold Is the trend percent for Cost of Goods Sold favorable or unfavorable? Trend Percent for Accounts Receivable: Denominator: Numerator: Analysis period accounts receivable 2021: 2020: 2019: 2018: 2017: Trend percent 0% 0% = 0 % 0% 0% Trend percent 0 % 0% 0% 0 % 0% Base year accounts receivable Trend percent 0% 0% 0% 0% 0% Is the trend percent for Accounts Receivable favorable or unfavorable?
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