The following amounts were reported on the December 31, 2013, balance sheet: Required: a. Calculate working capital
Question:
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.
Transcribed Image Text:
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
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a Cash 8000 Accounts receivable 22000 Inventory 30000 Total ...View the full answer
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Related Book For
Accounting What the Numbers Mean
ISBN: 978-0078025297
10th edition
Authors: David H. Marshall, Wayne W. McManus, Daniel F. Viele
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