Using the transactions in PA5-1, complete the following table by indicating the sign of the effect (+

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Using the transactions in PA5-1, complete the following table by indicating the sign of the effect (+ for increase, - for decrease, NE for no effect, and CD for cannot determine) of each transaction. Consider each item independently.

a. Repaid a long-term note payable of $80,000. (Interest was paid separately.)

b. Paid cash to purchase equipment costing $120,000.

c. Purchased additional equipment costing $20,000 by issuing a long-term note payable.

d. Recorded service revenues on account of $30,000.

Using the transactions in PA5-1, complete the following table by

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Fundamentals of Financial Accounting

ISBN: 978-0078025372

4th edition

Authors: Fred Phillips, Robert Libby, Patricia Libby

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Question Posted: Nov 23, 2016 08:02 AM

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Using the transactions in PA5-1, complete the following table by indicating the sign of the effect (+

Question:

Transaction Debt-to-Assets Asset Turnover Net Profit Margin etc.

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tr msoheightsourceauto col msowidthsourceauto br msodataplacementsamecell style16 msonumberformat 000 000 00220022 msostylenameComma msostyleid3 style17 msonumberformat 0 0 00220022 textaligncenter ve...View the full answer

Fundamentals of Financial Accounting

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