Refer to M2 23 Evaluate whether the current ratio of
Refer to M2- 23. Evaluate whether the current ratio of Mister Ribs Restaurant will increase or decrease as a result of the following transactions. Consider each item, (a)-( d), independent of the others.
a. Paid $ 2,000 cash for a new oven.
b. Received a $ 2,000 cash contribution from an investor for the company’s common stock.
c. Borrowed $ 5,000 cash from a bank, issuing a note that must be repaid in three years.
d. Purchased $ 500 of napkins, paper cups, and other disposable supplies on account.
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