Question
The comparative accounts payable and long-term debt balances for a company follow. Current Year Previous Year Accounts payable $61,750 $47,500 Long-term debt 60,117 69,100 Based
The comparative accounts payable and long-term debt balances for a company follow.
| Current Year | Previous Year | |
| Accounts payable | $61,750 | $47,500 |
| Long-term debt | 60,117 | 69,100 |
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 | Increase | fill in the blank 3 % |
| Long-term debt | $fill in the blank 4 | Decrease | fill in the blank 6 % |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered 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
Financial Accounting an introduction to concepts, methods and uses
Authors: Clyde P. Stickney, Roman L. Weil, Katherine Schipper, Jennifer Francis
13th Edition
978-0538776080, 324651147, 538776080, 9780324651140, 978-0324789003
