Using the following account balances, calculate for the two years presented: A. Working capital B. Current ratio
Question:
Using the following account balances, calculate for the two years presented:
A. Working capital
B. Current ratio
Transcribed Image Text:
Accounts payable Accounts receivable Cash Prepaid advertising Utilities payable Wages payable 12/31/2018 $2,000 3,000 4,500 1,200 950 1,675 12/31/2019 $ 6,120 8,450 18,600 4,000 6,500 8,600
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A Working capital can be calculated by subtracting current liabilities from current assets 12312018 ...View the full answer
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Related Book For
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
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