Identified financial statement components and ratio

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How can you determine the effect of the following transactions on the identified financial statement components and ratios. Code your answers as follows........... A: If the transaction results in an increase in the financial statement component or ratio..................................................................................................................... B: If the transaction results in a decrease in the financial statement component or ratio...................................................................................................................... C. If the transaction does not affect the financial statement component or ratio................................................................................................................................... Transaction 1: A company sold inventory for an amount greater than its cost; Gross profit___________Current Assets _______Stockholders' equity__________ Transaction 2: Advertising expense was recorded but has yet to be paid for; Net income ____________Gross Profit_________ Stockholders equity__________

Reference no: EM131212237

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