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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Survey of Accounting

ISBN: 978-0538749091

5th Edition

Authors: Carl S Warren

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Question Posted: Oct 20, 2011 06:28 AM

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

Question:

Preceding Current Year Year Current assets: Cash, temporary investments, and S 80,000 120,000 $200,000 $ 84,000 receivables Inventories 66,000 $ 150,000 Total current assets Current liabilities 100,000 $100,000 60,000 $ 90,000 Working capital

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