In a comparative balance sheet, the ending Cash for 2019 was $345,000 and is $333,000 for 2020. The net increase or decrease from 2019 to 2020 is: (Round the final answer to two decimal places.)
A) 96.52%.
B) 3.48%.
C) 3.60%.
D) -3.48%.

Question

Quizplus · Accepted Answer

The decrease in cash from 2019 to 2020 is $345,000 - $333,000 = $12,000. To find the percentage decrease: ($12,000 / $345,000) * 100 = 3.48%. Since it's a decrease, the correct answer is -3.48%.

In a Comparative Balance Sheet, the Ending Cash for 2019