Cash and accounts receivable for Ashfall Co. are provided below. Current Year Prior Year Cash $ 62 , 400 $ 58 , 000 Accounts receivable (net) 42 , 000 50 , 000 \begin{array}{lll} & ext { Current Year } & ext { Prior Year }\ ext { Cash } & \$ 62,400 & \$ 58,000 \ ext { Accounts receivable (net) } & 42,000 & 50,000\end{array} Cash Accounts receivable (net) Current Year $62 , 400 42 , 000 Prior Year $58 , 000 50 , 000 Based on this information, what is the amount and percentage of increase or decrease that would be shown on a balance sheet with horizontal analysis? Round percentages to one decimal place.

Question

Cash and accounts receivable for Ashfall Co. are provided below.​    Current Year   Prior Year   Cash  $ 62 , 400 $ 58 , 000  Accounts receivable (net)  42 , 000 50 , 000 \begin{array}{lll} & 	ext { Current Year } & 	ext { Prior Year }\	ext { Cash }  &  \$ 62,400  &  \$ 58,000 \	ext { Accounts receivable (net) }  &  42,000  &  50,000\end{array}  Cash   Accounts receivable (net)  ​  Current Year  $62 , 400 42 , 000 ​  Prior Year  $58 , 000 50 , 000 ​   Based on this information, what is the amount and percentage of increase or decrease that would be shown on a balance sheet with horizontal analysis? Round percentages to one decimal place.

Zybrea Knight · Accepted Answer

Final Answer : Cash$4,400 increase($62,400 - $58,000) or 7.6%Accounts receivable$8,000 decrease($42,000 - $50,000) or(16%)

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