Roscoe Company's comparative balance sheet show total assets of $693,000 and $630,000,for the current and prior years,respectively.The percentage change to be reported in the horizontal analysis is an increase of:
A)10%.
B)9%.
C)5%.
D)4%.

Question

Quizplus · Accepted Answer

Year-to-year change (%)= [(Current year's total − Prior year's total)÷ Prior year's total] × 100
= [($693,000 − $630,000)÷ $630,000] × 100 = 10%

Roscoe Company's Comparative Balance Sheet Show Total Assets of $693,000