Joe Fellows is attempting to categorize several items from his companys financial statements so he can determine

Question:

Joe Fellows is attempting to categorize several items from his company’s so he can determine his working capital. Joe notices the following categories of accounts and amounts: cash, $3,500; accounts payable, $10,200; accounts receivable, $15,000; sales taxes due city of Phoenix, $750; sales taxes due the Arizona Department of Revenue, $3,450; inventory, $17,500; wages payable, $5,350; taxes payable (federal), $2,570; money market fund, $12,300; and computer, $3,400.
a. List accounts classified as current assets and as current liabilities.
b. Determine the amount of gross working capital.
c. Determine the amount of net working capital.
d. What is Joe's current ratio? Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...