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Category > Management Posted 07 Jan 2018 My Price 7.00

Davis Corporation,

 

 

effects of transactions on Ratios

 

P2. Davis Corporation, a clothing retailer, engaged in the transactions that follow. Opposite each transaction is a ratio and space to mark the effect of each transaction on the ratio.

 

 

 

effect

transaction

Ratio

Increase     Decrease   none

a.    Issued common stock for cash.

Asset turnover

     

b.    Declared cash dividend.

Current ratio

     

c.    Sold treasury stock.

Return on equity

     

d.   Borrowed cash by issuing note payable.

Debt to equity ratio

     

e.    Paid salaries expense.

Inventory turnover

     

f.    Purchased merchandise for cash.

Current ratio

     

g.   Sold equipment for cash.

Receivables turnover

     

h.   Sold merchandise on account.

Quick ratio

     

i.    Paid current portion of long-term debt.

Return on assets

     

j.    Gave sales discount.

Profit margin

     

k.    Purchased marketable securities for cash.

Quick ratio

     

l.     Declared 5% stock dividend.

Current ratio

     

m.  Purchased a building.

Free cash flow

     

 

 

 

ReQUIReD

 

aCCoUntinG ConneCtion â–¶ Show that you understand the effect of business activities on performance measures by placing an X in the appropriate column to show whether the transaction increased, decreased, or had no effect on the indicated ratio.

 

 

 

 

 

 

 

 

 

 

 

Chapter Assignments                                                                                                                                           697

 

LO 3

 

Answers

Maurice Tutor
(5)
Status NEW Posted 07 Jan 2018 10:01 PM My Price 7.00

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