Floyd's corporation has $20,000 in current liabilities and $27,000 in current assets. Its initial inventory level is $7,000; and it will rise funds as additional notes payable and use them to increase inventory. How much can Floyd's short-term (notes payable) increase without pushing its current ratio below 1.1 For your answer, round to the nearest 0.01. Do not use the dollar ($)
Floyd's corporation has $20,000 in current liabilities and $27,000 in current assets. Its initial inventory level is $7,000; and it will rise funds as additional notes payable and use them to increase inventory. How much can Floyd's short-term (notes payable) increase without pushing its current ratio below 1.1 For your answer, round to the nearest 0.01. Do not use the dollar ($)
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Floyd's corporation has $20,000 in current liabilities and $27,000 in current assets. Its initial inventory level is $7,000; and it will rise funds as additional notes payable and use them to increase inventory. How much can Floyd's short-term (notes payable) increase without pushing its current ratio below 1.1 For your answer, round to the nearest 0.01. Do not use the dollar ($) sign. DO NOT USE commas to separate thousands. Answer
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