A company's comparative balance sheets show total assets for 2012 and 2011 as $990,000 and $900,000, respectively. What is the percentage change to be reported in the horizontal analysis?
A) Increase of 10%
B) Increase of 9%
C) Increase of 5%
D) Increase of 4%

Question

Quizplus · Accepted Answer

The percentage change is calculated as ((990,000 - 900,000) / 900,000) * 100 = 10%.

A Company's Comparative Balance Sheets Show Total Assets for 2012