Electrical conductance of an ultrasonic transducer depends on the applied acoustic load. Provided one mechanical port charged with known impedance, and the other port exposed to a fluid, the resulting load is determined by the acoustic impedance of the liquid. This work applies generalized singular value decomposition (GSVD) to determine the transfer function of a pulsed transducer attached to a reference by analyzing the reverberating voltage at the electrical port. The transfer function gives the conductance spectrum as a function of acoustic load. The Butterworth-van-Dyke equivalent circuit is used to derive load impedance from conductance. With acoustic impedance being the product of sound velocity and density, speed of sound recording permits a density measurement of liquids. The proposed method has been successfully tested for water- and oil-based liquids. This work shows experimental results and discusses the influence of temperature and liquid inhomogeneities