The following amounts were reported on the December 31, 2013, balance sheet: Required: a. Calculate working capital

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The following amounts were reported on the December 31, 2013, balance sheet:

Required:
a. Calculate working capital at December 31, 2013.
b. Calculate the current ratio at December 31, 2013.
c. Calculate the acid-test ratio at December 31,2013.

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Accounting What the Numbers Mean

ISBN: 978-0078025297

10th edition

Authors: David H. Marshall, Wayne W. McManus, Daniel F. Viele

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Question Posted: Oct 05, 2013 01:19 AM

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The following amounts were reported on the December 31, 2013, balance sheet: Required: a. Calculate working capital

Question:

Cash.. S 8,000 Accounts payable.15,000 22,000 Bonds payable 120,000 40,000 Merchandise inventory 30,000 Buildings and equipment, net of accumulated depreciation Common stock Wages payable Retained eanings.... Land 5,000 80,000 20,000

Step by Step Answer:

a Cash 8000 Accounts receivable 22000 Inventory 30000 Total ...View the full answer

Accounting What the Numbers Mean

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