Question 1.

If a company were to remove purchased goodwill from balance sheet....would it impact assets, liability, or equity? If so, how does it impact it and why. (example: decrease, increase, or NE).

Question 2.

If a company were to add pension plan assets to the balance sheet, would it impact assets, liability, or equity? If so, how does it impact it and and why. (example: decrease, increase, or NE).

Question 3.

Recognizing Off-Balance Sheet transactions. Example, a company is contingently liable for guarantees of indebtedness owed by some of its licenses and others, totaling approximately $133 million. How would this affect a company's assets, liability, or equity?

Question 4.

If a company were to add back LIFO RESERVE TO INVENTORY......how would it affect assets (asset turnover), liability (debt ratio), equity ratios?

Question 5.

How would the recognition of market value have an effect on assets, liability, or equity?