Question
The comparative accounts payable and long-term debt balances for a company follow. Current Year Previous Year Accounts payable $42,210 $60300 Long-term debt 88,464 77,600 Based
The comparative accounts payable and long-term debt balances for a company follow.
| Current Year | Previous Year | |||
| Accounts payable | $42,210 | $60300 | ||
| Long-term debt | 88,464 | 77,600 | ||
Based on this information, what is the amount and percentage of increase or decrease that would be shown in a balance sheet with horizontal analysis?
| Amount of Change | Increase/Decrease | Percentage | |
| Accounts payable | $ | Increase | % |
| Long-term debt | $ | Decrease | % |
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Corporate Financial Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
15th Edition
978-1337398169
