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Category > Accounting Posted 28 Apr 2017 My Price 8.00

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 ▶ 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.

 

 

Answers

Alpha Geek
(8)
Status NEW Posted 28 Apr 2017 12:04 PM My Price 8.00

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