Question
Data for Tropical Enterprises? follows: 2019 2018 2017 Total Current Assets $400,000 $300,000 $250,000 Total Current Liabilities 190,000 150,000 125,000 Compute the dollar amount of
Data for Tropical Enterprises? follows:
2019
2018
2017
Total Current Assets
$400,000
$300,000
$250,000
Total Current Liabilities
190,000
150,000
125,000
Compute the dollar amount of change and the percentage of change in Tropical ?Enterprises's working capital each year during 2019 and 2018. What do the calculated changes? indicate?
Begin by selecting the formula to compute the working? capital, the dollar amount of change and the percentage of change in Tropical ?Enterprises' working capital.
Working capital =__________________________________
Dollar amount of change = __________________________
Percentage of change = _________________________________
?First, calculate the amount and percentage of change in working capital in 2018. ?(Round the percentage to one decimal? place, X.X%.)
The amount of change in working capital is ________
The percentage of change in working capital is _________%
. ?Next, calculate the amount and percentage of change in working capital in 2019. ?(Round the percentage to one decimal? place, X.X%.)
The amount of change in working capital is__________ .
The percentage of change in working capital is_________ %.
What do the calculated changes? indicate?
Tropical ?Enterprises' working capital has ? -deteriorated or improved -year over year from 2017 to 2019.
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Codification Of Statements On Auditing Standards Including Statements On Standards For Attestation Engagements Volume 1
Authors: AICPA
1st Edition
1937352013, 978-1937352011
