State the effect of the following transactions on the debt to asset ratio . Use increase, decrease, or no effect for your answer.

Payment of $40,000 rent with land.

		Increase
		Decrease
		No Effect

State the effect of the following transactions on the current ratio. Use increase, decrease, or no effect for your answer.

Payment of $40,000 on short-term notes payable with land.

		Increase
		Decrease
		No effect

Retained earnings is increased by each of the following except

		net income
		prior period adjustments.
		some disposals of treasury shares
		All of these answer choices are correct

State the effect of the following transactions on the current ratio. Use increase, decrease, or no effect for your answer.

Inventory purchases on account. Payment is not due until after 5 years

		Increase
		Decrease
		No Effect

State the effect of the following transactions on the current ratio. Use increase, decrease, or no effect for your answer.

Declared 10% cash dividend

		Increase
		Decrease
		No effect

State the effect of the following transactions on the debt to asset ratio. Use increase, decrease, or no effect for your answer.

Additional shares are sold for land

		Increase
		Decrease
		No Effect