selected information from a finanacial statement for twoyears. Compute the perce
ID: 2433386 • Letter: S
Question
selected information from a finanacial statement for twoyears. Compute the percentage change from 2006 to 2007 whenpossible and round to the nearest whole percentage. 2007 2006 a. Accountsreceivable..........................................................$126,000 $160,000 b. Marketablesecurities..........................................................-0- 250,000 c. Retainedearnings................................................................80,000 (80,000) d. Notesreceivable................................................................120,000 -0- e. Notespayable....................................................................870,000 800,000 f. Cash...................................................................................84,000 80,000 g. Sales...................................................................................970,000 910,000 selected information from a finanacial statement for twoyears. Compute the percentage change from 2006 to 2007 whenpossible and round to the nearest whole percentage. 2007 2006 a. Accountsreceivable..........................................................$126,000 $160,000 b. Marketablesecurities..........................................................-0- 250,000 c. Retainedearnings................................................................80,000 (80,000) d. Notesreceivable................................................................120,000 -0- e. Notespayable....................................................................870,000 800,000 f. Cash...................................................................................84,000 80,000 g. Sales...................................................................................970,000 910,000Explanation / Answer
2007 2006 % increase a. Accounts receivable................$126,000 $160,000 (160,000-126000)/160000= 21% decrease b. Marketable securities.... .......... -0- 250,000 (250,000-0)/250000= 100% decrease c. Retained earnings........... ..........80,000 (80,000) (-80,000-80000)/-80000 = 200% increase d. Notes receivable..................... 120,000 -0- (0-120,000)/0= Not possible e. Notes payable..........................870,000 800,000 (800,000-870000)/800000= 8.75 i.e 9% increase f. Cash.........................................84,000 80,000 (80,000-84,000)/80,000= 5% increase g. Sales..................................... .970,000 910,000 (910,000-970000)/910,000= 6.59 i.e. 7% increaseRelated Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.