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3 years ago

Use the following data to determine the total amount of working capital.

Business

1 answer:

ValentinkaMS [17]3 years ago

4 0

Answer:

Sheffield Corp.

The amount of working capital

= Current Assets minus Current Liabilities

= $596,300 - $229,000

= $367,300

Explanation:

a) Data and Calculations:

Cash $200,000

Accounts receivable 154,000

Inventory 152,000

Prepaid insurance 90,300

Total current assets $596,300

Stock investments (long-term) 266,000

Land 299,000

Buildings $305,000

Less: Accumulated

depreciation (55000) 250,000

Goodwill 216,000 $1,031,000

Total assets $1,627,300

Accounts payable $202,000

Salaries and wages payable 27,000

Current Liabilities $229,000

Mortgage payable 236,000

Total liabilities $465,000

Common stock $420,300

Retained earnings 742,000

Total stockholders' equity $1,162,300

Total liabilities and stockholders' equity $1,627,300

The difference between Sheffield Corporation's current assets and the current liabilities is known as the working capital. It is the excess between these two parameters.

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For each of the following transactions, determine if Raymond Corporation has earned revenue during the month of May and, if so,

kompoz [17]

Answer:In the month of May, Revenue was only earned from Customer C $3,400 and customer D, $2,300. Revenue was not earned from Customers A and B in the month of May. Therefore, total revenue is $5,700.

Explanation:In accordance with the principle of revenue recognition,Revenue will only be recognised when it is earned and services when they are fully rendered. For Customer A, the service has not been rendered, Therefore, the revenue is not yet earned.

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3 years ago

Present value (with changing interest rates). Marty has been offered an injury settlement of $12 comma 000 payable in 3 years

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Answer:

If opportunity cost is 5%, PV=10,366.05

If opportunity cost is 6.5%, PV=9,934.19

If opportunity cost is 11.5%, PV=8,656.79

Explanation:

PV=Σ $(\frac{CF_{t} }{(1+i)^{t} })$

If opportunity cost is 5%: PV = $\frac{12,000 }{(1+0.05)^{3} }$ =10,366.05

If opportunity cost is 6.5%: PV = $\frac{12,000 }{(1+0.065)^{3} }$ =9,934.19

If opportunity cost is 11.5%: PV = $\frac{12,000 }{(1+0.115)^{3} }$ =8,656.79

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3 years ago

Do some independent research on Nicholas Carr (the author of "IT Doesn’t Matter") and explain his current position on the abilit

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Answer:

I agree with Carr's position.

Explanation:

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3 years ago

The market mechanism benefits society by ensuring that ________.

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The market mechanism benefits society by ensuring that: scarce resources are channeled into products most desired by society
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3 years ago

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The contract must be very detailed and should include all the contingencies spelled out in it.

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