Question
Use the following data to determine the total amount of working capital. Skysong, Inc. Balance Sheet December 31, 2017 Cash $200000 Accounts payable $205000 Accounts
Use the following data to determine the total amount of working capital.
| Skysong, Inc. | |||||
| Balance Sheet | |||||
| December 31, 2017 | |||||
| Cash | $200000 | Accounts payable | $205000 | ||
| Accounts receivable | 146000 | Salaries and wages payable | 28000 | ||
| Inventory | 167000 | Mortgage payable | 249500 | ||
| Prepaid insurance | 92200 | Total liabilities | $482500 | ||
| Stock investments | 263000 | ||||
| Land | 260000 | ||||
| Buildings | $308000 | Common stock | $357200 | ||
| Less: Accumulated depreciation | (55500) | 252500 | Retained earnings | 747000 | |
| Trademarks | 206000 | Total stockholders' equity | $1104200 | ||
| Total assets | $1586700 | Total liabilities and stockholders' equity | $1586700 | ||
a.$372200
b.$142200
c.$402200
d.$192200
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The Controllers Toolkit
Authors: Christine H. Doxey
1st Edition
1119700647, 9781119700647
