2021 Sales Cost of goods sold Accounts receivable $ 282,880 128,200 18,100 2020 $ 270,800 122,080 17,300 2019 $ 252,600 115,280 16,400 2018 $ 234,560 106,440 15,200 2017 $ 150,000 67,000 9,000 Compute trend percents for the above accounts, using 2017 as the base year. For each of the three accounts, state whether the situation as revealed by the trend percents appears to be favorable or unfavorable. 2021: 2020: 2019: 2018: 2017: Trend Percent for Net Sales: Numerator: Denominator: 1 = Trend percent 1 = % = % 1 Is the trend percent for Net Sales favorable or unfavorable? Trend Percent for Cost of Goods Sold: Numerator: Denominator: = % = % Trend percent = % = % 2021: 2020: 2019: 1 1 = 2018: = 2017: = Is the trend percent for Cost of Goods Sold favorable or unfavorable? 2021: 2020: 2019: 2018: 2017: Numerator: Trend Percent for Accounts Receivable: 1 Denominator: = Trend percent % = % = % Is the trend percent for Accounts Receivable favorable or unfavorable? =

Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter7: Inventories
Section: Chapter Questions
Problem 8PEB: Financial statement data for years ending December 31 for Tango Company follow: a. Determine the...
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2021
Sales
Cost of goods sold
Accounts receivable
$ 282,880
128,200
18,100
2020
$ 270,800
122,080
17,300
2019
$ 252,600
115,280
16,400
2018
$ 234,560
106,440
15,200
2017
$ 150,000
67,000
9,000
Compute trend percents for the above accounts, using 2017 as the base year. For each of the three accounts, state whether the
situation as revealed by the trend percents appears to be favorable or unfavorable.
2021:
2020:
2019:
2018:
2017:
Trend Percent for Net Sales:
Numerator:
Denominator:
1
=
Trend percent
1
=
%
=
%
1
Is the trend percent for Net Sales favorable or unfavorable?
Trend Percent for Cost of Goods Sold:
Numerator:
Denominator:
=
%
=
%
Trend percent
=
%
=
%
2021:
2020:
2019:
1
1
=
2018:
=
2017:
=
Is the trend percent for Cost of Goods Sold favorable or unfavorable?
Transcribed Image Text:2021 Sales Cost of goods sold Accounts receivable $ 282,880 128,200 18,100 2020 $ 270,800 122,080 17,300 2019 $ 252,600 115,280 16,400 2018 $ 234,560 106,440 15,200 2017 $ 150,000 67,000 9,000 Compute trend percents for the above accounts, using 2017 as the base year. For each of the three accounts, state whether the situation as revealed by the trend percents appears to be favorable or unfavorable. 2021: 2020: 2019: 2018: 2017: Trend Percent for Net Sales: Numerator: Denominator: 1 = Trend percent 1 = % = % 1 Is the trend percent for Net Sales favorable or unfavorable? Trend Percent for Cost of Goods Sold: Numerator: Denominator: = % = % Trend percent = % = % 2021: 2020: 2019: 1 1 = 2018: = 2017: = Is the trend percent for Cost of Goods Sold favorable or unfavorable?
2021:
2020:
2019:
2018:
2017:
Numerator:
Trend Percent for Accounts Receivable:
1
Denominator:
=
Trend percent
%
=
%
=
%
Is the trend percent for Accounts Receivable favorable or unfavorable?
=
Transcribed Image Text:2021: 2020: 2019: 2018: 2017: Numerator: Trend Percent for Accounts Receivable: 1 Denominator: = Trend percent % = % = % Is the trend percent for Accounts Receivable favorable or unfavorable? =
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