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7. 10. Of what value is the food sales/total sales ratio to creditor? 8. Which standard is 9. What does the ratio expression Problems Problem 1 Indicate the effects of the transactions listed below on each of the following: total current decrease with "-" and indicate no effect or effect cannot be determined with "0." Assume assets, working capital (CA - CL), and current ratio. Indicate increase with "+," indicate an initial current ratio of greater than 1.0. Total Working Capital Current Current Assets Ratio Food is sold for cash. 1. 2. Equipment is sold at less than its net book value. 3. Beverages are sold on account. 4. A cash dividend is declared. 5. Accrued payroll is paid. 6. Treasury stock is purchased. 7. A fully depreciated fixed asset is retired. yo

7. 10. Of what value is the food sales/total sales ratio to creditor? 8. Which standard is 9. What does the ratio expression Problems Problem 1 Indicate the effects of the transactions listed below on each of the following: total current decrease with "-" and indicate no effect or effect cannot be determined with "0." Assume assets, working capital (CA - CL), and current ratio. Indicate increase with "+," indicate an initial current ratio of greater than 1.0. Total Working Capital Current Current Assets Ratio Food is sold for cash. 1. 2. Equipment is sold at less than its net book value. 3. Beverages are sold on account. 4. A cash dividend is declared. 5. Accrued payroll is paid. 6. Treasury stock is purchased. 7. A fully depreciated fixed asset is retired. yo

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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7. 10. Of what value is the food sales/total sales ratio to creditor? 8. Which standard is 9. What does the ratio expression Problems Problem 1 Indicate the effects of the transactions listed below on each of the following: total current decrease with "-" and indicate no effect or effect cannot be determined with "0." Assume assets, working capital (CA - CL), and current ratio. Indicate increase with "+," indicate an initial current ratio of greater than 1.0. Total Working Capital Current Current Assets Ratio Food is sold for cash. 1. 2. Equipment is sold at less than its net book value. 3. Beverages are sold on account. 4. A cash dividend is declared. 5. Accrued payroll is paid. 6. Treasury stock is purchased. 7. A fully depreciated fixed asset is retired. yo
Transcribed Image Text:7. 10. Of what value is the food sales/total sales ratio to creditor? 8. Which standard is 9. What does the ratio expression Problems Problem 1 Indicate the effects of the transactions listed below on each of the following: total current decrease with "-" and indicate no effect or effect cannot be determined with "0." Assume assets, working capital (CA - CL), and current ratio. Indicate increase with "+," indicate an initial current ratio of greater than 1.0. Total Working Capital Current Current Assets Ratio Food is sold for cash. 1. 2. Equipment is sold at less than its net book value. 3. Beverages are sold on account. 4. A cash dividend is declared. 5. Accrued payroll is paid. 6. Treasury stock is purchased. 7. A fully depreciated fixed asset is retired. yo
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