12.2

Please explain to me the numbers or data points that were used to derive the results.

Which statements are assets vs liabilities.

Thanks

lifa1.lyryx.com/student-servlets/LabServlet?ccid=7845&lab=12002&singleQuestion=0&course=7845&ident=454996&command=answer yryx Spreadsheet Print Preferences Help Lab 12.2 (Question 1) Name: Fiona Murton Cabrera Date: 2020-10-17 20:28 Question 1 [5 points] ABC Inc. had the following balances: Account 2014 2013 Cash...... $22,500 $55,500 Accounts receivable.. 81,000 83,00 Rent receivable 58,00 47,500 Prepaid rent... 16,000 27,500 Investment in bonds 129,000 146,000 Accounts payable 48,500 20,500 Salaries payable... 139,500 49,500 Short-term notes payable 50,00 106,000 Long-term notes payable. 141,00 145,500 Consulting revenue earned.. 98,500 132,500 Salaries expense 127,50 51,000 Rent expense.. 43,500 43,50 a) Calculate the working capital for 2014 and 2013. Please make sure your final answer(s) are accurate to the nearest whole number. 2014 2013 Working capital 0 0 Marking: The working capital for 2014 should be -$60,500, but you have not entered this. This amount can be calculated using the formula: "Working capital = Current assets - Current liabilities'. This will cost you 2 marks. The working capital for 2013 should be $37,500, but you have not entered this. This amount can be calculated using the formula: 'Working capital = Current assets - Current liabilities'. This will cost you 2 marks. b) Is the change in working capital favourable or unfavourable? The change in working capital is favourable Marking: Your answer was: favourable The correct answer was: unfavourable The working capital is less in 2014 than in 2013. You will lose 2 marks for this part. Total marks for this question: 0 Overall Mark: 0/5 Your mark of 0/5 is less than your previous best mark of 1/5 and will not be recorded. DONE