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vfiekz [6]
3 years ago
15

RequiredIndicate the effect of each of the following transactions on (1) the current ratio, (2) working capital, (3) stockholder

s’ equity, (4) book value per share of common stock, and (5) retained earnings. Assume that the current ratio is greater than 1:1. (Indicate the effect of each transactions by selecting "+" for increase, "–" for decrease, and "NC" for no change.)a. Collected account receivable.b. Wrote off account receivable.c. Converted a short-term note payable to a long-term payable.d. Purchased inventory on account.e. Declared cash dividend.f. Sold merchandise on account at a profit.g. Issued stock dividend.h. Paid account payable.i. Sold building at a lossdo a +, -. or NC for each one.Current Ratioa.b.c.d.e.f.g.h.i.Working Capitala.b.c.d.e.f.g.h.i.Stockholders Equitya.b.c.d.e.f.g.h.i.Book Valuea.b.c.d.e.f.g.h.i.Retained Earningsa.b.c.d.e.f.g.h.i.

Business
1 answer:
notsponge [240]3 years ago
4 0

Find the given attachment

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Partial balance sheets and additional iformation are listed below for Sowell Company.
musickatia [10]

Answer and Explanation:

The preparation of the operating activities section is presented below

Cash Flows from operating activities

Net Income $88,000

Adjustment made for non cash items:                  

Depreciation Expense $19,000

Add: Decrease in Account Receivable $15000 ($70,000 - $85,000)

Less: Increase in Inventory   $(5000) ($40,000 - $35,000)

Less: Decrease in accounts payable   $(8000) ($54,000 - $62,000)

Net cash flows from operating activities        $109,000

3 0
3 years ago
On July 31, 2022, Cullumber Company had a cash balance per books of $6,360.00. The statement from Dakota State Bank on that date
Bogdan [553]

Answer:

Please see explanation below

Explanation:

Cullumber Company

Bank reconciliation statement

Cash balance per bank statement $7,910.80

Add: Deposits in transit $1,316.30

$9,227.1

Less outstanding checks ($1,975.10)

Adjusted cash balance per bank $7,252

Cash balance per books $6,360

Add Electronics funds transfer received $1,635

Totalled $7,995

Less:

Bank service charge $17

NSF check $690

Error in recording check no. 2480

($384 - $348) $36

Total balance to be deducted ($743)

Adjusted cash balance per books $7,252

3 0
3 years ago
Gordon would like to win back his customer by giving him tickets to a major league baseball game, but he knows his company frown
-BARSIC- [3]

Answer: ethical

Explanation:

Gordon would like to win back his customer by giving him tickets to a major league baseball game, but he knows his company frowns on this type of activity. Gordon is facing ethical dilemma.

Ethical dilemmas, is a dilemma that has to do with morals and principles which involves an option that isn't ethically acceptable. In this scenario, Gordon's company doesn't support activities like giving free tickets to customers and at the same time, he wants to win back his customer. He is faced with ethical dilemma as he's aware that giving out the ticket won't be supported by his company even though to him,it feels like the right thing to do to win back his customer.

7 0
3 years ago
Erin works at a financial institution. She has offered a housing loan to a customer. While carrying out the transaction, which l
Neko [114]

Answer:

D. ensure that she credits the loan amount accurately to the customer’s account

Explanation:

Erin needs to address this legal responsibility, and "arranging an informal meeting with the customer" is not a legal responsibility. Similarly, C is not a legal responsibility, and in fact, it is a crime. And E is not a legal responsibility. These details are not being given at the time of sanctioning the loan. However, D is certainly a legal responsibility as Erin needs to ensure that she credits the loan amount accurately to the customer's account.

6 0
3 years ago
Which recommendation would be most suitable for a 40-year old client whose main objective is retirement income and preservation
melisa1 [442]

Answer:

Fixed deferred annuity

Explanation:

Fixed deferred annuity is a form of saving investment where interest is paid on the invested amount at a rate set by the investment company and defined in the contract , and the interest can be deferred into the future till a withdrawal is made from the annuity contract.

Taxes are not paid but deferred until withdrawal which allows the opportunity to  control when to pay taxes , a good investment sense for long term investment.

This makes it a good investment for a risk adverse investor who will not require investment income until later years but its main goal is retirement income and preservation of capital.

5 0
3 years ago
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