Assume that, to take advantage of very low interest rates, ABC Corporation borrowed a significant amount...
Assume that, to take advantage of very low interest rates, ABC Corporation borrowed a significant amount of money and used the funds to repurchase its own common stock. How would you expect this to be reflected in the preliminary analytical procedures (ratio analysis) performed by ABC Corporation’s auditors.
Homework Answers
With this transaction, company will reduce its equity and debt will increase.
Also, net income will reduce.
Mainly, return on equity and debt to equity ratio will be impacted.
So auditor, while doing ratio analysis of ABC will specifically focus on these two ratio to measure the impact of company's transactions.
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Assume that, to take advantage of very low interest rates, ABC
Corporation borrowed a significant amount...
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