hipedugenwileyplus.com/edugendtymain.un Return to Blackboard andt, Accounting Pr

ID: 2413402 • Letter: H

Question

hipedugenwileyplus.com/edugendtymain.un Return to Blackboard andt, Accounting Principles, 1le CALCULATOR PRINTER VERSSO Brief Exercise 18-3 18 Using the following data from the comparative balance sheet of Goody Company ber 31, 2015 December 31, 2014 $498,027 Accounts recevable Invertory Total assets 404,900 $616,800 $2,448,900 $894,060 2,840,724 mustrate horizontal analysis. (Round percentages to a decimal oieces e g. ?%.) Increase or (Decresee) Goody Company Balance Sheet Accounts recevable December 31, 2015 December 31, 2014 Amount Percentage $498,027 5894,300 $2,840,724 5404,900 616.800 $2,448.900 93127 Inventary Total assets Question Attempts: 0 of 3 used SAVE FOA LaNs nere to search

Explanation / Answer

Horizontal Analysis of the Balance Sheet data for Goody Company

GOODY NCOMPANY

BALANCE SHEET

Increase / (Decrease)

December 31,

2015

December 31, 2014

Amount

Percentage

Accounts Receivable

498,027

404,900

93,127

23%

Inventory

894,360

616,800

277,560

45%

Total Assets

2,840,724

2,448,900

391,824

16%

Percentage of Increase

Accounts Receivable = [ $93,127 / 404,900 ] x 100 = 23%

Inventory = [ $277,560 / 616,800 ] x 100 = 45%

Total Assets = [ 391,824 / 2,448,900 ] x 100 = 16%