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Need help on this one as well thank you Wowk Manufacturing has a current ratio of 3:1 on December 31, 2014. Indicate whether each of
Need help on this one as well thank you
Wowk Manufacturing has a current ratio of 3:1 on December 31, 2014. Indicate whether each of the following transactions would increase (+), decrease (?), or have no effect (NA) on Wowk?s current ratio and its working capital. |
Required |
a. | Paid cash for a trademark. |
b. | Wrote off an uncollectible account receivable. |
c. | Sold equipment for cash. |
d. | Sold merchandise at a profit (cash). |
e. | Declared a cash dividend. |
f. | Purchased inventory on account. |
g. | Scrapped a fully depreciated machine (no gain or loss). |
h. | Issued a stock dividend. |
i. | Purchased a machine with a long-term note. |
j. | Paid a previously declared cash dividend. |
k. | Collected accounts receivable. |
l. | Invested in current marketable securities. |
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