The following information is from the records of XYZ Co. Account Cash Accounts receivable Inventory Office...
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The following information is from the records of XYZ Co. Account Cash Accounts receivable Inventory Office equipment Accumulated depreciation-office equipment Accounts payable Salaries payable Notes payable (matures in Year 2) Common stock Retained earnings Sales revenue Cost of goods sold Salaries expense Rent expense XYZ Co. Adjusted Trial Balance As of December 31, Year 1 Supplies expense Utilities expense Total Debit $ 23,300 32,500 65,000 75,000 95,000 32,350 14,000 2,000 6,000 $345,150 Required: Based on the adjusted trial balance, calculate net working capital. Credit $ 10,000 26,100 3,000 30,000 80,000 16,050 180,000 $345,150 Example 2 Current Ratio Calculation Facts: The following information is from the records of XYZ Co. Account Cash Accounts receivable Inventory Office equipment Accumulated depreciation-office equipment Accounts payable Salaries payable Notes payable (matures in Year 2) Common stock Retained earnings Sales revenue Cost of goods sold Salaries expense Rent expense XYZ Co. Adjusted Trial Balance As of December 31, Year 1 Supplies expense Utilities expense Total Required: Calculate the current ratio. Debit $ 23,300 32,500 65,000 75,000 Credit $ 10,000 26,100 3,000 30,000 80,000 16,050 180,000 95,000 32,350 14,000 2,000 6,000 $345,150 $345,150 The following information is from the records of XYZ Co. Account Cash Accounts receivable Inventory Office equipment Accumulated depreciation-office equipment Accounts payable Salaries payable Notes payable (matures in Year 2) Common stock Retained earnings Sales revenue Cost of goods sold Salaries expense Rent expense XYZ Co. Adjusted Trial Balance As of December 31, Year 1 Supplies expense Utilities expense Total Debit $ 23,300 32,500 65,000 75,000 95,000 32,350 14,000 2,000 6,000 $345,150 Required: Based on the adjusted trial balance, calculate net working capital. Credit $ 10,000 26,100 3,000 30,000 80,000 16,050 180,000 $345,150 Example 2 Current Ratio Calculation Facts: The following information is from the records of XYZ Co. Account Cash Accounts receivable Inventory Office equipment Accumulated depreciation-office equipment Accounts payable Salaries payable Notes payable (matures in Year 2) Common stock Retained earnings Sales revenue Cost of goods sold Salaries expense Rent expense XYZ Co. Adjusted Trial Balance As of December 31, Year 1 Supplies expense Utilities expense Total Required: Calculate the current ratio. Debit $ 23,300 32,500 65,000 75,000 Credit $ 10,000 26,100 3,000 30,000 80,000 16,050 180,000 95,000 32,350 14,000 2,000 6,000 $345,150 $345,150
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Q1 To calculate the net working capital based on the adjusted trial balance of XYZ Co youll need to ... View the full answer
Related Book For
Horngrens Financial And Managerial Accounting The Financial Chapters
ISBN: 9780134486840
6th Edition
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura
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