Northstar Corp. had the following balances: Account Cash Accounts receivable Interest receivable Automobiles Accounts payable Salaries...

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Northstar Corp. had the following balances: Account Cash Accounts receivable Interest receivable Automobiles Accounts payable Salaries payable Short-term notes payable Unearned rent Long-term notes payable Commissions earned Supplies expense 2014 $47,500 107,000 15,500 227,000 35,500 50,000 95,000 57,500 87,500 100,500 29,000 2013 $155,000 128,000 21,500 184,000 21,000 136,000 91,000 26,000 139,000 138,000 62,500 a) Calculate the working capital for 2014 and 2013. Please make sure your final answer(s) are accurate to the nearest whole number. 2014 2013 Working capital b) is the change in working capital favourable or unfavourable? The change in working capital is (select one) c) Calculate the current ratio for 2014 and 2013. Please make sure your final answer(s) are accurate to 2 decimal places. 2014 2013 Current ratio d) is the change in current ratio favourable or unfavourable? The change in current ratio is (select one) Northstar Corp. had the following balances: Account Cash Accounts receivable Interest receivable Automobiles Accounts payable Salaries payable Short-term notes payable Unearned rent Long-term notes payable Commissions earned Supplies expense 2014 $47,500 107,000 15,500 227,000 35,500 50,000 95,000 57,500 87,500 100,500 29,000 2013 $155,000 128,000 21,500 184,000 21,000 136,000 91,000 26,000 139,000 138,000 62,500 a) Calculate the working capital for 2014 and 2013. Please make sure your final answer(s) are accurate to the nearest whole number. 2014 2013 Working capital b) is the change in working capital favourable or unfavourable? The change in working capital is (select one) c) Calculate the current ratio for 2014 and 2013. Please make sure your final answer(s) are accurate to 2 decimal places. 2014 2013 Current ratio d) is the change in current ratio favourable or unfavourable? The change in current ratio is (select one)

Answer rating: 100% (QA)

1 Working capital Current aseets Current Laib Current Assets Cash Accounts receiv... View the full answer