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Financial And Managerial Accounting

15th Edition
WARREN + 1 other
Publisher: Cengage Learning,
ISBN: 9781337902663

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Section
BuyFindarrow_forward

Financial And Managerial Accounting

15th Edition
WARREN + 1 other
Publisher: Cengage Learning,
ISBN: 9781337902663
Chapter 14, Problem 1BE
Textbook Problem
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The comparative accounts payable and long-term debt balances for a company follow.

Chapter 14, Problem 1BE, The comparative accounts payable and long-term debt balances for a company follow. Based on this

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?

To determine

Determine the amount and percentage of increase or decrease to be shown on the balance sheet with horizontal analysis.

Explanation of Solution

Horizontal Analysis

Horizontal analysis refers to the measurement of percentage change in the comparative financial statements. It compares the items from the financial statements from one to the other years, and indicates the trends.

Formula to calculate the change in amount:

Change in amount = Amount in current year-Amount in previous year

Formula to calculate the change in percentage:

Change in Percentage = Change in amountPrevious year amount×100

Prepare the horizontal analysis to determine the amount and percentage of increase or decrease to be shown on the balance sheet with horizontal analysis

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Chapter 14 Solutions

Financial And Managerial Accounting
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