For Gray Corporation, the working capital at the end of the current year is $10,000 more than

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For Gray Corporation, the working capital at the end of the current year is $10,000 more than the working capital at the end of the preceding year, reported as follows:

Has the current position improved?Explain.

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Accounting

ISBN: 978-0324662962

23rd Edition

Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren

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Question Posted: Aug 29, 2011 06:50 PM

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For Gray Corporation, the working capital at the end of the current year is $10,000 more than

Question:

Preceding Year Current Year Current assets: Cash, temporary investments, and receivables Inventories Total current assets Current liabilities. Working capital 000'08 $ 66,000 $150,000 $ 84,000 .... 120,000 $200,000 100,000 $100,000 ... $ 90,000 ... .

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