Question

Compute the annual dollar changes and percent changes for each of the following accounts. (Decreases should be indicated with a minus sign. Round percent change to one decimal place.) Current Year Prior Year Short-term investments $ 380,834 $ 240,061 Accounts receivable 103,020 106,337 Notes payable 0 94,802

Answer 1

Answer:

Explanation:

The computation is shown below:

                                           (A)                        (B)                  (A - B)

                                        Current Year       Prior Year        Dollar change

Short-term investments  $380,834            $240,061         $140,773

Accounts receivable      $103,020              $106,337        -$3,317

Notes payable                 $0                         $94,802        -$94,802

Now the percentage change would be

= (A - B) ÷ (B) × 100

For Short-term investments = 58.64%

For Accounts receivable = - 3.12%

For Notes payable = - 100%