Homework SoursePerform a horizontal analysis for the balance sheet entry Sa
Perform a horizontal analysis for the balance sheet entry \'Salaries Payable\' given below. (Round to nearest tenth.)
Use parentheses to indicate a decrease.
Solution
Perform a horizontal analysis :
| 2008 | 2007 | Amount | Percent | |
| Current liabilities | ||||
| Account payable | 7400 | 6200 | 1200 | 19.4% |
| Salaries payable | 6900 | 8100 | -1200 | -14.8% |
| Taxes payable | 2100 | 1800 | 300 | 16.7% |
| Total current liabilities | 16400 | 16100 | 300 | 1.9% |
| Long term liabilities | ||||
| Debenture bonds | 18000 | 16600 | 1400 | 8.4% |
| Total liabilities | 34400 | 32700 | 1700 | 5.2% |
| Stockholder\'s equity | ||||
| Retained earnings | 54000 | 70200 | -16200 | -23.1% |
| Total liabilities and stockholder\'s equity | 88400 | 102900 | -14500 | -14.1% |
