c . debit to Treasury Stock for $ 25,000 . d . credit to Common Stock for $ 21,000 .
13 . The purchase of treasury stock a . increases total assets and decreases total stockholders ' equity . b . decreases total assets and increases total stockholders ' equity . c . increases total assets and increases total stockholders ' equity . d . decreases total assets and decreases total stockholders ' equity .
14 . Ross Paints reported sales of $ 350,000 , total assets of $ 150,000 , total stock-holders ' equity of $ 60,000 , current assets of $ 50,000 , current liabilities of $ 30,000 , and cash of $ 15,000 . In a vertical analysis of the balance sheet , cash would be shown as a . 25 %. b . 10 %. c . 30 %. d . 20 %.
15 . Common size analysis is one technique of a . ratio analysis . b . horizontal analysis . c . liquidity analysis . d . vertical analysis .
16 . Swanson Company had inventory of $ 220,000 and $ 180,000 on December 31 , 2007 , and December 31 , 2006 , respectively . Cost of goods sold for 2007 was $ 1,520,000 . Average days in inventory is approximately a . 52.9 . b . 7.6 . c . 48 . d . 6.9 .
17 . If common stock is issued for an amount greater than par value , the excess should be credited to a . Cash . b . Retained Earnings . c . Paid-in Capital in Excess of Par Value . d . Legal Capital .