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3 years ago

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

Business

1 answer:

Leokris [45]3 years ago

6 0

Answer:

$353,800

Explanation:

Working Capital = Current Assets - Current Liabilities

where,

CA = $146000 + $189000 + $155000 + $94800 = $584,800

CL = $206000 + $25000 = $231,000

therefore,

Working Capital = $584,800 - $231,000 = $353,800

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1 year ago

What item flows from the income statement to the statement of retained earnings?.

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Net Income.

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1 year ago

Jake is the maker of a $2,000 promissory note payable to Kim. Kim indorses the note toLou who, in turn, indorses it to Mona, who

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2 years ago

Sinclair Manufacturing Company experienced the following accounting events during its first year of operation. With the exceptio

matrenka [14]

Answer:

Please see the attached image for the Horizontal Financial Statements of Sinclair Manufacturing Company.

Explanation:

5. FURNITURE - Straight Line Method

Book Value of Furniture = Cost of Acquisition - Residual Value

Cost of Acquisition = $9,600

Residual Value = $1,600

Book Value of Furniture = $9,600 - $1,600

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Book Value of Equipment = Cost of Acquisition - Residual Value

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Residual Value = $1,000

Book Value of Furniture = $16,000 - $1,000

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3 years ago

What will happen when unity is not in organization ? explain in details.

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