The balance sheet of Mister Ribs Restaurant reports current assets of $30,000 and current liabilities...
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The balance sheet of Mister Ribs Restaurant reports current assets of $30,000 and current liabilities of $15,000. Required: Calculate the current ratio of Mister Ribs Restaurant and determine whether it will increase or decrease as a result of the following transactions. Consider each item, (a) to (d), independent of the others. Paid $2,000 cash for a new oven. Received a $2,000 cash contribution from an investor for the company's common stock. Borrowed $5,000 cash from
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