Using the following accounts and balances taken from a year-end balance sheet, compute working capital and the
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Using the following accounts and balances taken from a year-end balance sheet, compute working capital and the current ratio:
Accounts Payable ........... $3,500
Accounts Receivable ........... 5,000
Cash ................ 2,000
Marketable Securities .......... 1,000
Merchandise Inventory .......... $ 6,000
Notes Payable in Three Years ...... 6,500
Owner’s Capital ........... 24,000
Property, Plant, and Equipment ..... 20,000
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Related Book For
Principles of Accounting
ISBN: 978-1133626985
12th edition
Authors: Belverd E. Needles, Marian Powers and Susan V. Crosson
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