Question
The comparative accounts payable and long-term debt balances of a company are provided below. Current Year Previous Year Accounts payable $53,956 $65,800 Long-term debt 88,920
The comparative accounts payable and long-term debt balances of a company are provided below.
| Current Year | Previous Year | |
| Accounts payable | $53,956 | $65,800 |
| Long-term debt | 88,920 | 68,400 |
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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Accounting
Authors: Charles T. Horngren, Walter T. Harrison Jr., M. Suzanne Oliv
9th Edition
130898414, 9780132997379, 978-0130898418, 132997371, 978-0132569309
