Question
Use the following data to determine the total amount of working capital. Koonce Office Supplies Balance Sheet December 31, 2014 Cash $ 130,000 Accounts payable
Use the following data to determine the total amount of working capital. Koonce Office Supplies Balance Sheet December 31, 2014 Cash $ 130,000 Accounts payable $ 140,000 Accounts receivable 100,000 Salaries and wages payable 20,000 Inventory 110,000 Mortgage payable 160 000 Prepaid insurance 60,000 Total liabilities $320,000 Goodwill 170,000 Land 180,000 Buildings $210,000 Common stock $240,000 Less:Accumulated Retained earnings 500,000 depreciation (40,000) 170,000 Total stockholders' equity $740,000 Trademarks 140 000 Total liabilities and Total assets $1 060 000 stockholders' equity $1 060 000 A) $240,000 B) $390,000 C) $130,000 D) $180,000
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