North Mountain's currrent ratio is 148 It is considering issuing $ 31 million in bonds to purchase a new manufacturing facility Its current liabilities are $ 34 million but the new debt would increase the current portion of its longterm debt payable by $ 30 million What would North Mountain's current ratio be if it issued the bonds and used the proceeds to purchase the facility

Answer rating: 100% (QA)

Fundamentals Level Skills Module Paper F7 HKG Financial Reporting Hong Kong June 2010 Answers 1 a Consolidated statement of fi nancial position of Picant as at 31 March 2010 000 000 Assets Noncurrent ... View the full answer