The following amounts were reported on the December 31, 2013, balance sheet: Required: a. Calculate working capital

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The following amounts were reported on the December 31, 2013, balance sheet:

Required:
a. Calculate working capital at December 31, 2013.
b. Calculate the current ratio at December 31, 2013.
c. Calculate the acid-test ratio at December 31,2013.

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Accounting What the Numbers Mean

ISBN: 978-0078025297

10th edition

Authors: David H. Marshall, Wayne W. McManus, Daniel F. Viele

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Question Posted: Oct 05, 2013 01:19 AM

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The following amounts were reported on the December 31, 2013, balance sheet: Required: a. Calculate working capital

Question:

Cash.. S 8,000 Accounts payable.15,000 22,000 Bonds payable 120,000 40,000 Merchandise inventory 30,000 Buildings and equipment, net of accumulated depreciation Common stock Wages payable Retained eanings.... Land 5,000 80,000 20,000

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a Cash 8000 Accounts receivable 22000 Inventory 30000 Total ...View the full answer

Accounting What the Numbers Mean

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