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 ..............................$7,000

Accounts Receivable .........................10,000

Cash ..................................................... 4,000

Marketable Securities ........................ 2,000

Merchandise Inventory ....................12,000

Notes Payable in Three Years .........13,000

Property, Plant, and Equipment .....40,000

Owner’s Capital ................................ 48,000

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Principles of Accounting

ISBN: 978-1439037744

11th Edition

Authors: Needles, Powers, crosson

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Question Posted: Feb 23, 2012 12:34 AM

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Using the following accounts and balances taken from a year-end balance sheet, compute working capital and the

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