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April 21, 2014

Homework Help: Accounting

Posted by Francesca on Friday, January 13, 2012 at 12:43pm.

The balance sheet of Burger King reports current assets of $30,500 and current liabilities of $15,800.
Calculate the current ratio of Burger King and detemine whether it will increase or decrease as a result of the following transactions:

-Paid $2,030 cash for a new oven.

I know to get the current ratio you divide current assets/current liability, but I do not understand how to factor in the $2,030 transaction. Any help will much appreciated. Thank you!

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