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 ........... $3,500

Accounts Receivable ........... 5,000

Cash ................ 2,000

Marketable Securities .......... 1,000

Merchandise Inventory .......... $ 6,000

Notes Payable in Three Years ...... 6,500

Owner’s Capital ........... 24,000

Property, Plant, and Equipment ..... 20,000

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Principles of Accounting

ISBN: 978-1133626985

12th edition

Authors: Belverd E. Needles, Marian Powers and Susan V. Crosson

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Question Posted: Mar 26, 2014 08:03 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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Principles of Accounting

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