Question
The comparative accounts payable and long-term debt balances for a company follow. Current Year Previous Year Accounts payable $111,000 $100,000 Long-term debt 132,680 124,000 Based
The comparative accounts payable and long-term debt balances for a company follow.
| Current Year | Previous Year | |||
| Accounts payable | $111,000 | $100,000 | ||
| Long-term debt | 132,680 | 124,000 | ||
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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Case Studies In Forensic Accounting And Fraud Auditing
Authors: Professor D. Larry Crumbley, Wilson LaGraize, Christopher E. Peters
2nd Edition
0808041932, 978-0808041931
