Determine the Effect of the Following Transactions on the Identified

Essay

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 issued common stock at a price in excess of par value.
Revenues _____
Assets _____
Stockholders' equity _____
Return on assets ratio _____
Transaction 2: A company recorded depreciation expense at year-end.
Net income _____
Assets _____
Stockholders' equity _____
Total asset turnover ratio _____