Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jan 15, 2021

Working capital is calculated as Oa. net sales minus current assets Ob. average daily sales plus quick assets Oc. current assets minus current liabilities

Working capital is calculated as Oa. net sales minus current assets Ob. average daily sales plus quick assets Oc. current ass

Working capital is calculated as Oa. net sales minus current assets Ob. average daily sales plus quick assets Oc. current assets minus current liabilities Od. cost of goods sold minus total assets

Step by Step Solution

★★★★★

3.37 Rating (156 Votes )

There are 3 Steps involved in it

Step: 1

Answer current assets minus current liabilities working Working ... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting

Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren

23rd Edition

978-0324662962

More Books

Students also viewed these Accounting questions

Question

★★★★★

Suppose that nominal GDP was $9500000.00 in 2005 in Fairfax County Virginia. In 2015, nominal GDP was $11500000.00 in Fairfax County Virginia. The price level rose 2.00% between 2005 and 2015, and...

Answered: 1 week ago

Question

★★★★★

LearnCo LearnCo manufactures and sells one product, an abacus for classroom use, with two models, the Basic model and the Deluxe model, The company began operations on January 1, 20Y1, and is...

Answered: 1 week ago

Question

★★★★★

Cost of goods sold for Harlem Tool & Die during 20X1 was $400,000. Beginning inventory was $64,000 and ending inventory was $89,000. Beginning trade accounts payable were $13,000, and ending trade...

Answered: 1 week ago

Question

★★★★★

A company acquires the assets and liabilities of another company. The fair value of the acquired companys identifiable net assets is $5,000,000. The acquisition transaction includes the following:...

Answered: 1 week ago

Question

★★★★★

Describe how the standard entropy of hydrogen gas at 25oC can be obtained from heat measurements.

Answered: 1 week ago

Question

★★★★★

A Job-shop manufacturer that specializes in replacement parts has no forecasting system in place and manufactures products based on last month's sales. 24 months of data are available as given in the...

Answered: 1 week ago

Question

★★★★★

Explain the advantages and disadvantages of Maslows hierarchy of needs approach.

Answered: 1 week ago

Question

★★★★★

Why is having multiple health-care plans important for FedEx in slowing down increases in the cost of benefits?

Answered: 1 week ago

Question

★★★★★

QUESTION 3 may use more than once - not all have to be used a. Record only b. Record and Disclose c. Disclose only d. Do not record or disclose 1. 2. 3. 4. Event is probable and is estimable Event is...

Answered: 1 week ago

Question

★★★★★

Fun Silly Toys (FST) produces a number of space themed toys (e.g., astronaut action figures). One of the newer divisions at FST is the board game division, which currently produces and sells one...

Answered: 1 week ago

Question

★★★★★

Given a normal distribution with u = 102 and o = 25, and given you select a sample of n = 25, complete parts (a) through (d). a. What is the probability that X is less than 91? P(X

Answered: 1 week ago

Question

★★★★★

Required information The following partially completed T-accounts summarize last year's transactions for Kelshaw Company: Raw Materials Beg Bal (1) 4,000 18,000 20,000 (2) Accounts Payable 18,000 (1)...

Answered: 1 week ago

Question

★★★★★

You are designing the system for controlling the traffic lights at an intersection. Give one reason why you would use a microcontroller rather than a microprocessor for this system. What is a...

Answered: 1 week ago

Question

★★★★★

A. Complete the table below: Identify the title of the accessed document relevant to each requirement category for business meetings For each document, outline all requirements you must follow when...

Answered: 1 week ago

Question

★★★★★

Mary, Sally and Sue form the ABC partnership to sell sporting goods. After three years on 2/8/23, Mary decides to leave the partnership . On 2/9/23, Martha joins the partnership. When Martha joined...

Answered: 1 week ago

Question

★★★★★

Exercise(1) ch5 Adjusting Entries for Deferrals 1) Supplies Adjustment Example Yazici Advertising purchased supplies costing 2,500 on October 5. Yazici recorded the purchase by increasing (debiting)...

Answered: 1 week ago

Question

★★★★★

The appropriate discount rate for cash flows received one year from today is 11 percent. The appropriate annual discount rate for cash flows received two years from today is 14 percent. a. What is...

Answered: 1 week ago

Question

★★★★★

Nike manufactures shoes and sportswear. How has the Internet changed the way this company communicates with its suppliers and retail customers?

Answered: 1 week ago

Question

★★★★★

Two items are omitted in each of the following four lists of income statement data. Determine the amounts of the missing items, identifying them byletter. Sales Sales returns and allowances Sales...

Answered: 1 week ago

Question

★★★★★

Delaware Chemical Company uses oil to produce two types of plastic products, P1 and P2. Deleware budgeted 25,000 barrels of oil for purchase in September for $72 per barrel. Direct labor budgeted in...

Answered: 1 week ago

Question

★★★★★

Using the following cash payments journal, identify each of the posting references, indicated by a letter, as representing (1) a posting to a general ledger account, (2) a posting to a subsidiary...

Answered: 1 week ago

Question

★★★★★

What price should Vencap offer for the investment opportunity described in Problem 1 if it requires a 17% return on investment? In Problem 1 Vencap Enterprises is evaluating an investment opportunity...

Answered: 1 week ago

Question

★★★★★

Wildcat Drilling Contractors Inc. is considering the acquisition of a new deep-drilling rig at a cost of $12 million. With this added drilling capability, the companys net operating profits would...

Answered: 1 week ago

Question

★★★★★

A college can purchase a telephone system for $30,000 or lease a system for five years for a front-end charge of $3000 and regular payments of $1500 at the beginning of every quarter (including the...

Answered: 1 week ago

Previous Question Next Question