Question
Swinnerton Clothing Company's balance sheet showed total current assets of $3,125, all of which were required in operations. Its current liabilities consisted of $575 of
Swinnerton Clothing Company's balance sheet showed total current assets of $3,125, all of which were required in operations. Its current liabilities consisted of $575 of accounts payable, $300 of 6% short-term notes payable to the bank, and $145 of accrued wages and taxes. What was its net operating working capital that was financed by investors?
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Intermediate Accounting
Authors: Earl K. Stice, James D. Stice
19th edition
1133957919, 978-1285632988, 1285632982, 978-0357691229, 978-1133957911
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