Manchester Technology has the following data available:
$\begin{array}{l}
\text {Wages Payable, December 31, 2013} & \$ 20 \
\text {Wages Payable, December 31, 2012} & \$15 \

\end{array}$
What is the percentage increase or (decrease)in wages payable from 2012 to 2013 for Manchester Technology?
A)(33.3)%
B)(25.0)%
C)(12.5)%
D)25.0%
E)33.3%

Question

Manchester Technology has the following data available: 
$\begin{array}{l}
\text {Wages Payable, December 31, 2013} & \$ 20 \
\text {Wages Payable, December 31, 2012} & \$15  \

\end{array}$ 
What is the percentage increase or (decrease)in wages payable from 2012 to 2013 for Manchester Technology?
A)(33.3)%
B)(25.0)%
C)(12.5)%
D)25.0%
E)33.3%

Quizplus · Accepted Answer

To calculate the percentage increase or decrease, we use the formula:

percentage increase/decrease = (new value - old value)/old value * 100%

Applying this formula:

percentage increase/decrease = (\$20 - \$15)/\$15 * 100% = 33.3%

Therefore, the answer is E) 33.3%.