Question
The comparative accounts payable and long-term debt balances of a company are provided below. Current Year Previous Year Accounts payable $64,638 $56,700 Long-term debt 53,062
The comparative accounts payable and long-term debt balances of a company are provided below.
| Current Year | Previous Year | |
| Accounts payable | $64,638 | $56,700 |
| Long-term debt | 53,062 | 61,700 |
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? Enter all answers as positive numbers.
| Amount of Change | Increase/Decrease | Percentage | |
| Accounts payable | $ | % | |
| Long-term debt | $ | % |
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Communication And Auditing A Step By Step Guide
Authors: Melanie McKay, Elizabeth Rosa
1st Edition
075931652X, 978-0759316522
