Question
The comparative accounts payable and long-term debt balances for a company follow. Current Year Previous Year Accounts payable $31,494 $36,200 Long-term debt 80,136 63,600 Based
The comparative accounts payable and long-term debt balances for a company follow.
| Current Year | Previous Year | |
| Accounts payable | $31,494 | $36,200 |
| Long-term debt | 80,136 | 63,600 |
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 | $ | % | |
| Long-term debt | $ | % |
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Contemporary Auditing Real Issues And Cases
Authors: Michael C. Knapp
6th Edition
0324303254, 9780324303254
