Indicate the effects of the transactions listed below (+) to indicate increase,

Question

Indicate the effects of the transactions listed below (+) to indicate increase, (-) decrease and (0) if no effect. If below affects the total current assets, current ratios or net income. a. cash is acquired through the issuance of additional common stock b. merchandise is sold for cash c. federal income tax due for the previous year is paid d. a fixed asset is sold for less than book value e. a fixed asset is sold for more than book value f. merchandise is sold on credit g. payment is made to trade creditors for previous purchases h. a cash dividened is declared and paid i. cash is obtained through short term bank loans

Explanation / Answer

a. (+) b.(0) c (-) d (-) e. (+) f.(-) g. (-) h. (-) i. (+)

Related Questions

Navigate

• Browse (All)
• Browse I
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.