Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Data from Dunshee Corporation's most recent balance sheet appear below: Year 2 Year 1 Current assets: Cash $ 134 $ 104 Accounts receivable, net 278
Data from Dunshee Corporation's most recent balance sheet appear below:
Year 2 | Year 1 | |||||
Current assets: | ||||||
Cash | $ | 134 | $ | 104 | ||
Accounts receivable, net | 278 | 298 | ||||
Inventory | 102 | 122 | ||||
Prepaid expenses | 14 | 14 | ||||
Total current assets | $ | 528 | $ | 538 | ||
Total current liabilities | $ | 246 | $ | 240 | ||
Sales on account in Year 2 amounted to $1,270 and the cost of goods sold was $790.
The working capital at the end of Year 2 iS:
-
A) $282
-
B) $528
-
C) $826
-
D) $776
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started