15. Assume that the current ratio is 2.0. Which of the following transactions would decrease the current rutio? a Declared a cash dividend. b. Paid a previously declared cash dividend. c. Both of the above. d. None of the above. 16. Which of the following transactions would decrease working capital? a. Borrowed cash on a short-term note with the bank. b. Paid off all short-term notes due. c. Both of the above. d. None of the above. 17. Which of the following transactions would decrease the acid-test ratio? a. Sold inventory costing $30,000 for $20,000 cash. b. Sold marketable securities costing $60,000 for $55,000 cash. c. Both of the above. d. None of the above. Use the following information to answer questions 18 - 19: For Aggies Company, the predetermined overhead rate is based on direct labor cost. At the beginning of the year, the company estimated that manufacturing overhead cost for the year would be $450,000 and the direct labor cost would be $300,000. For the year, the actual manufacturing overhead cost was $470,000 and the actual direct labor cost was $320,000. (Hint: You might want to review homework problem 3-16 or the January 30 handout worked in class, that is available on canvas.) to the 18. The journal entry to apply overhead costs to jobs will include a Manufacturing Overhead account for a credit; $450,000 b. debit; 8470,000. c. credit; $470,000 d. debit; $480,000. c. credit; $480,000. 19. For the year, Manufacturing Overhead was a. overapplied $10,000. b. underapplied: $10,000. c. overapplied: $20.000, d. underapplied: $20,000. c. overapplied: $30,000. 20. Since we didn't get to cheer on our Aggies in the NCAA tournament, to receive credit for this question, write "Go Aggies on the answer sheet