he current ratio is defined as current assets divided by current liabilities. On December 29, 2021 Ohio Company had current assets of $200 and current liabilities of $100. On December 30, Ohio paid salary payable int the amount of $50. Calculate the current ratio on December 31, 2021.

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Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is