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PROBLEM 6.11 Effect of transactions on ratios Fantastic Foods Ltd completed a series of transactions, which are listed below. Before the transactions, both the current

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PROBLEM 6.11 Effect of transactions on ratios Fantastic Foods Ltd completed a series of transactions, which are listed below. Before the transactions, both the current and quick asset ratios were greater than 1. The cash account has a debit balance. Indicate the effect of each of the transactions listed on the ratio listed opposite it. For each transaction, state whether the ratio would increase, decrease or have no effect. Treat each transaction independently

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