ACCT Nov 6 - ACCT Professor William Chapter 5 Homework Page...

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ACCT Professor William Chapter 5 Homework Page 223 PB5-1 a. Dr Cash…………………………...440 Cr Regal Revenue 440 b. Dr Property and Equipment……….27 Cr Cash 27 c. Dr Dividends………………………41 Cr Cash 41 d Dr Depreciation Expense………….75 Cr Cash 75 Balance Sheet Income Statement Transaction Assets Liabilites Stockholders’ Equity Revenues Expenses Net Income A + NE NE + NE + B +/- NE NE NE NE NE C - NE + NE NE NE D - NE NE NE + - PB5-2 Transaction Debt-to-Assets Asset Turnover Net Profit Margin A - + + B NE NE NE C + + NE D + + - C&DS5-5
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1. Debt-to-Assets and Asset turnover are the two ratios that will be affected by recordings costs as an asset rather than an expense. The ratio of Debt-to-Assets would decrease and the ration of asset turnovers would also decrease. 2. Machinery installation should not be considered an asset since this does not specifically apply to equipment or supplies. Like the old accounting clerk had
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