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Category > Business & Finance Posted 28 May 2017 My Price 8.00

Daley, Inc. is consistently profitable. Daley’s normal

Daley, Inc. is consistently profitable. Daley’s normal financial statement relationships are as follows:
I. Current ratio: 3 to 1
II. Inventory turnover: 4 times
III. Total debt/total assets ratio: 0.5 to 1
In 2007, Daley was involved in the following transactions and events:
1. Daley issued a stock dividend.
2. Daley declared, but did not pay, a cash dividend.
3. Customers returned invoiced goods for which they had not paid.
4. Accounts payable were paid on December 31, 2007.
5. Daley recorded both a receivable from its insurance company and a loss from fire damage to a factory building.
6. Early in 2007, Daley increased the selling price of one of its products that had a demand in excess of capacity. The number of units sold in 2006 and 2007 was the same.

Required
For items 1 through 6, determine whether each 2007 transaction or event increased (I), decreased (D), or had no effect (N) on each of the 2007 ratios.

 

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Status NEW Posted 28 May 2017 09:05 AM My Price 8.00

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