Question
The comparative accounts payable and long-term debt balances for a company follow. Line Item Description Current Year Previous Year Accounts payable $80,325 $76,500 Long-term debt
The comparative accounts payable and long-term debt balances for a company follow. Line Item Description Current Year Previous Year Accounts payable $80,325 $76,500 Long-term debt 44,544 51,200 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 | $ | Increase or Decrease | % |
| Long-term debt | $ | Increase or Decrease | % |
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Cima Official Exam Practice Kit Financial Accounting And Tax Principles 2008 Edition
Authors: Mike Rogers, John Dunn
4th Edition
0750686901, 978-0750686907
