10 Nov Comprehensive analysisRequiredIndicate the effect
Comprehensive analysisRequiredIndicate the effect of each of the following transactions on (1) the current ratio, (2) working capital,(3) stockholders’ equity, (4) book value per share of common stock, (5) retained earnings. Assume that the current ratio is greater than 1:1.a. Collected account receivable.b. Wrote off account receivable.c. Purchased treasury stock.d. Purchased inventory on account.e. Declared cash dividend.f. Sold merchandise on account at a profit.g. Issued stock dividend.h. Paid account payable.i. Sold building at a loss.
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