Perform a horizontal analysis and put the correct answer in the appropriate blocks for only these account line items: Cash, A/R, Accounts Payable, Other Liabilities, Sales, and Selling & Admin Exp. When necessary round to the nearest tenth. You must use parentheses to mark a negative change. For example: a negative change from 2021 to 2022 of $30,000 would be written (S30,000) Make sure to answer the last column - whether the change is deemed as a positive or negative based on the line item in the financial statements (for example is an increase in expenses a positive or negative variance?) You must put in the answer box, the word "positive" or "negative". Base your answer strictly on the results of the horizontal analysis for that line item. Dec. 31, 2021 Dec. 31, 2022 Positive or negative Assets Cash S 50,000 $ 20,000 Accts Receivable, net 25,000 15,000 Inventory 10,500 12,000 Total Current Assets S 85,500 $ 47,000 Property Plant & Equipment 265,600 255,000

Perform a horizontal analysis and put the correct answer in the appropriate blocks for only these account line items: Cash, A/R, Accounts Payable, Other Liabilities, Sales, and Selling & Admin Exp. When necessary round to the nearest tenth. You must use parentheses to mark a negative change. For example: a negative change from 2021 to 2022 of $30,000 would be written (S30,000) Make sure to answer the last column - whether the change is deemed as a positive or negative based on the line item in the financial statements (for example is an increase in expenses a positive or negative variance?) You must put in the answer box, the word "positive" or "negative". Base your answer strictly on the results of the horizontal analysis for that line item. Dec. 31, 2021 Dec. 31, 2022 Positive or negative Assets Cash S 50,000 $ 20,000 Accts Receivable, net 25,000 15,000 Inventory 10,500 12,000 Total Current Assets S 85,500 $ 47,000 Property Plant & Equipment 265,600 255,000

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 10PA: Elegant Universal uses the balance sheet aging method to account for uncollectible debt on...

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Consider the following potential events that might have occurred to Global on December 30, 2019. For each one, indicate which line items in Global's balance sheet would be affected and by how much. Also indicate the change to Global's book value of equity. a. Global used $19.6 million of its available cash to repay $19.6 million of its long-term debt. b. A warehouse fire destroyed $5.2 million worth of uninsured inventory. c. Global used $4.7 million in cash and $4.6 million in new long-term debt to purchase a $9.3 million building. d. A large customer owing $2.8 million for products it already received declared bankruptcy, leaving no possibility that Global would ever receive payment. e. Global's engineers discover a new manufacturing process that will cut the cost of its flagship product by more than 46%. f. A key competitor announces a radical new pricing policy that will drastically undercut Global's prices. d. A large customer owing $2.8 million for products it already received…