Happy Saturday

Dear tutor

Can you please write out what is considered an asset and what is considered a liability. I know the formula of working capital is asset - liabilties but EVERY time I have tried I have the wrong answer. So, say which ones are A or L .

thanks

Ly Introduction to Financial Accoux Ly Lab 12.2 (Question 1) ~ Lyryx L X *Course Hero X y! is rent earned an asset - Yahoo X C lifa1.lyryx.com/student-servlets/LabServlet?ccid=7845 + Apps Home Other Bookmarks yryx Spreadsheet Print Preferences Help Lab 12.2 (Question 1) Name: Fiona Murton Cabrera Date: 2020-10-17 Question 1 [5 points] Bentley Inc. had the following balances: Account 2014 2013 Cash........".""; $44,500 $44,000 Accounts receivable 59,50 5,500 Trademark_.. 50,500 69,500 Boats.......... 75,500 75,500 Equipment......... 129,000 $1,000 Accounts payable ... 38,000 91,50 Salaries payable....... 87,000 34,500 Short-term notes payable 48,500 57,000 Unearned rent... 41,500 65,500 Long-term notes payable .. 154,500 114,00 Consulting revenue earned.. 63,500 72,000 Insurance expense 24,000 23,500 Rent expense, office space _ 50,000 105,500 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 b) Is the change in working capital favourable or unfavourable? The change in working capital is (select one) select one) favourable Official Time: 15:13:08 unfavourable SUBMIT AND MARK SAVE AND CLOSE