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Problem 7 The Happy Valley Hotel's (HVH) list of current accounts and their March 31, 20X7, balances are as follows: Accounts Receivable Accounts Payable Accrued
Problem 7 The Happy Valley Hotel's (HVH) list of current accounts and their March 31, 20X7, balances are as follows: Accounts Receivable Accounts Payable Accrued Expenses Advance Deposits Allowance for Doubtful Accounts Beverage Inventory Cash Current Maturities-LTD Food Inventory Income Taxes Payable Prepaid Insurance $ 100,000 30,000 15,000 12,000 3,000 15,000 15,000 40,000 25,000 4,000 6,000 Notes Payable Notes Receivable Short-Term Investments 25,000 35.000 50,000 Required: 1. What is the total of the current assets for HVH? 2. What is the sum of HVH's current liabilities? 3. What is the networking capital of HVH? 4. What is the current ratio of HVH
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