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Most decisions made by management impact the ratios analysts use to evaluate performance. Indicate (by letter) whether each of the actions listed below will immediately increase (I), decrease (D) or have no effect (N) on the ratios shown. Assume each ratio is less than 1.0 before the action is taken.
Action
Current Ratio
Acid - Test
Ratio
Debt to
Equity Ratio
1. Issuance of long-term bonds
2. Issuance of short-term notes
3. Payment of accounts payable
4. Purchase of inventory on account
5. Purchase of inventory for cash
6. Purchase of equipment with a
4-year note
7. Retirement of bonds
8. Sale of common stock
9. Write-off of obsolete inventory
10. Purchase of short-term investment for cash
11. Decision to refinance on a long-term basis some currently maturing debt
Read headline "Lay off Big Macs, radio boss tells staff" and using Legitimacy Theory as the basis of your argument, explain why a company such as McDonald's would not want a radio station to make adverse comments about it
Explain how much different is it to be able to take losses when the taxpayer is not active in the business but merely a "passive investor"?
Fielder co obtained land by issuing 2,000 shares of its 10 par value common stock. The land recently appraised at 85,000 the common stock is actively traded at 40 dollars per share. Prepare journal entries to record acquisition of the land.
What was Disney's amount of working capital at year-end 2004? Did it change significantly and Compute the working capital ratio at year-end 2004 and year-end 2003. Did it improve or deteriorate between 2003 and 2004?
equipment purchased at the beginning of the fiscal year for 150000 is expected to have a useful life of 5 years or
Using the percentage of receivables method for recording bad debts expense, estimated uncollectible accounts are $25,000. If the balance of the Allowance for Doubtful Accounts is $8,000 debit before adjustment, what is the amount of bad debts expe..
Name and briefly explain the five components of COSO's internal control framework. Explain the relationship between the Sarbanes-Oxley Act and COSO.
Is the company's inventory turning over at a satisfactory rate and why or why not? Does the company maintain an adequate level of inventory to meet customer demand?
Prepare the required journal entries for the following unrelated items. A 5% stock dividend is declared and distributed at a time when the market value of the shares is $39 per share.
Use an available tax research service to determine how much income, if any, does Latrell have to recognize as a result of purchasing an airline ticket with Skymiles earned from business travel.
Norma Smith is the controller of Baylor Corporation and is responsible for the preparation of the year-end financial statements. The following transactions occurred during the year.
limon company uses the chart of accounts shown below. use the numbers preceding each title to create journal entries
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