gnment #11 - Chapter 14Question 1 of 7Current Attempt in ProgressCondensed data from the comparative statement of financial position of Penny Worth Inc.202120202019Current assets$114,000$112,000$102,000Non-current assets404,000330,000300,000Current liabilities111,00099.00096,000Non-current liabilities90,000111,000121,000Common shares110,000101.000101,000Retained earnings207,000131,00084,000(a)Using horizontal analysis, calculate the percentage of a base-year amount, using 2019 as the bdecimal place, eg. 15.2%.) PENNY WORTH INC.Horizontal Analysis of Statement of Financial Position(% of base-year amount)202120202019Current assetsNon-current assets96Current liabilitiesNon-currentliabilitiesCommon sharesRetained earnings9%eTextbook and MediaSave for LaterAttempts: 0 of 3 usedSubmit AnswerUsing multiple attempts will impact your score.5% score reduction after attempt 1aR

Definition: Horizontal analysis: The comparison of an item of a financial statement of one year…

statément of financial position of Pe 2021 2020 2019 Current assets $114,000 $112,000 $102,000 Non-current assets 404,000 330,000 300,000 Current liabilities 111,000 99.000 96,000 Non-current liabilities 90,000 111,000 121,000 Common shares 110,000 101.000 101,000 Retained earnings 207,000 131,000 84,000

statément of financial position of Pe 2021 2020 2019 Current assets $114,000 $112,000 $102,000 Non-current assets 404,000 330,000 300,000 Current liabilities 111,000 99.000 96,000 Non-current liabilities 90,000 111,000 121,000 Common shares 110,000 101.000 101,000 Retained earnings 207,000 131,000 84,000

Accounting (Text Only)

26th Edition

ISBN:9781285743615

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter15: Investments And Fair Value Accounting

Section: Chapter Questions

Problem 15.14EX

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