Comparative information taken from the fogerty company, Ask an Expert

Accounting

Comparative information taken from the Fogerty Company financial statements is shown below 2007 2006

(a) Accounts receivable $175,000 140,000

(b) Retained earnings $ 30,000 (40,000)

(d) Operating expenses 170,000 200,000

(e) Income taxes payable 22,000 20,000

Instructions

Using horizontal analysis, show the percentage change from 2006 to 2007 with 2006 as the base year.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9395615

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