Question
Listed below are account balances (in millions of dollars) taken from the records of Mikilos Stores. Debit Credit Accounts receivabletrade 730 Building and equipment 920
Listed below are account balances (in millions of dollars) taken from the records of Mikilos Stores. Debit Credit Accounts receivabletrade 730 Building and equipment 920 Cashchecking 34 Interest receivable 30 Inventory 16 Land 150 Notes receivable (long-term) 450 Petty cash fund 5 Prepaid rent 20 Supplies 8 Trademark 40 Accounts payabletrade 560 Accumulated depreciation 80 Additional paid-in capital 485 Allowance for uncollectible accounts 20 Cash dividends payable 30 Common stock, at par 15 Income tax payable 65 Notes payable (long-term) 800 Retained earnings 308 Deferred revenues 40 TOTALS 2,403 2,403 How much working capital does Mikilos have?
A) $98 B) $143 C) $128 D) $113
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