Question
Norsk Optronics, ALS, of Bergen, Norway, had a current ratio of 2.5 on June 30 of the current year. On that date, the company's assets
Norsk Optronics, ALS, of Bergen, Norway, had a current ratio of 2.5 on June 30 of the current year. On that date, the company's assets were:
Cash $90,000
Accounts receivable, net 260,000
Inventory490,000
Prepaid expenses10,000
Plant and equipment, net800,000
Total assets$1,650,000
Required:
1. What was the company's working capital on June 30?
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College Accounting Chapters 1- 15
Authors: James A Heintz, Robert W Parry
23rd Edition
1337794767, 9781337794763
