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2021: 2020: 2019: 2018: 2017: Numerator: Trend Percent for Accounts Receivable: Denominator: Is the trend percent for Accounts Receivable favorable or unfavorable? = Trend percent % % % Sales Cost of goods sold Accounts receivable 2021 $ 676,574 333,971 32,679 2020 $ 439,334 216,824 25,657 2019 $ 340,569 170,229 23,363 2018 $ 237,330 117,892 13,860 2017 $ 175,800 86,142 12,060 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: = Trend percent = % Is the trend percent for Net Sales favorable or unfavorable? 2021: 2020: 2019: 2018: 2017: Trend Percent for Cost of Goods Sold: Numerator: Denominator: Trend percent Is the trend percent for Cost of Goods Sold favorable or unfavorable? %

2021: 2020: 2019: 2018: 2017: Numerator: Trend Percent for Accounts Receivable: Denominator: Is the trend percent for Accounts Receivable favorable or unfavorable? = Trend percent % % % Sales Cost of goods sold Accounts receivable 2021 $ 676,574 333,971 32,679 2020 $ 439,334 216,824 25,657 2019 $ 340,569 170,229 23,363 2018 $ 237,330 117,892 13,860 2017 $ 175,800 86,142 12,060 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: = Trend percent = % Is the trend percent for Net Sales favorable or unfavorable? 2021: 2020: 2019: 2018: 2017: Trend Percent for Cost of Goods Sold: Numerator: Denominator: Trend percent Is the trend percent for Cost of Goods Sold favorable or unfavorable? %

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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2021: 2020: 2019: 2018: 2017: Numerator: Trend Percent for Accounts Receivable: Denominator: Is the trend percent for Accounts Receivable favorable or unfavorable? = Trend percent % % %
Transcribed Image Text:2021: 2020: 2019: 2018: 2017: Numerator: Trend Percent for Accounts Receivable: Denominator: Is the trend percent for Accounts Receivable favorable or unfavorable? = Trend percent % % %
Sales Cost of goods sold Accounts receivable 2021 $ 676,574 333,971 32,679 2020 $ 439,334 216,824 25,657 2019 $ 340,569 170,229 23,363 2018 $ 237,330 117,892 13,860 2017 $ 175,800 86,142 12,060 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: = Trend percent = % Is the trend percent for Net Sales favorable or unfavorable? 2021: 2020: 2019: 2018: 2017: Trend Percent for Cost of Goods Sold: Numerator: Denominator: Trend percent Is the trend percent for Cost of Goods Sold favorable or unfavorable? %
Transcribed Image Text:Sales Cost of goods sold Accounts receivable 2021 $ 676,574 333,971 32,679 2020 $ 439,334 216,824 25,657 2019 $ 340,569 170,229 23,363 2018 $ 237,330 117,892 13,860 2017 $ 175,800 86,142 12,060 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: = Trend percent = % Is the trend percent for Net Sales favorable or unfavorable? 2021: 2020: 2019: 2018: 2017: Trend Percent for Cost of Goods Sold: Numerator: Denominator: Trend percent Is the trend percent for Cost of Goods Sold favorable or unfavorable? %
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