1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Ivenika [448]
3 years ago
6

Use the following data to determine the total amount of working capital from the Banner Auto Supplies Balance Sheet for December

31, 2020:
Cash $70,000
Accounts payable $130,000
Accounts receivable 100,000
Salaries and wages payable 20,000
Inventory 140,000
Mortgage payable 180,000
Prepaid insurance 80,000
Total liabilities $330,000
Stock investments 180,000
Land 190,000
Buildings $230,000
Common stock $240,000
Accumulated depreciation (60,000)
Retained earnings 500,000
Total stockholders' equity $740,000
Trademarks 140,000
Total assets $1,070,000
Total liabilities and stockholders' equity $1,070,000

a. 260,000
b. 240,000
c. 160,000
d. 420,000
Business
1 answer:
Komok [63]3 years ago
4 0

Answer:

b. 240,000

Explanation:

Calculation to determine the total amount of working capital

First step is to calculate the Current assets

Using this formula

Current assets = Cash + Accounts receivable + Inventory + Prepaid insurance

Let plug in the formula

Current assets= $70,000 + 100,000 + 140,000 + 80,000

Current assets= $390000

Second step is to calculate the Current liabilities using this formula

Current liabilities = Accounts payable + Salaries and wages payable

Let plug in the formula

Current liabilities= $130,000 + 20,000

Current liabilities= $75,000

Now let calculate the working capital using this formula

Working capital = Current assets - Current liabilities

Let plug in the formula

Working capital = $390,000 - 150,000

Working capital = $240,000

Therefore the Working capital is $240,000

You might be interested in
Consider a no-load mutual fund with $390 million in assets and 15 million shares at the start of the year and with $440 million
Lyrx [107]

Answer:

20%

Explanation:

The computation of rate of return on the fund is shown below:-

Net assets value at the beginning = Total assets ÷ Number of shares

= $390 million ÷ 15 million

= $26 million

Net assets value at the end of the year = (Total assets - Expenses) ÷ Number of shares

= ($440 million - ($440 million × 2%)) ÷ 16 million

= ($440 million - $8.8 million) ÷ 16 million

= $26.95 million

Now,

Rate of return = (Net assets value at the end of the year - Net assets value at the end of the year + Income distribution + Capital gain distribution) ÷ Net assets value at the beginning

= ($26.95 million - $26 million + $4 per share + $0.25 per share) ÷ $26 million

= $5.2 million ÷ $26 million

= 20%

8 0
3 years ago
True or false, general revenue sharing grants give states the most discretion as to how to spend the money.
ioda
I think the answer is true although i'm not sure. please go back to your lesson and check, everything says there. I'm guessing you are home-schooled so just go through the lesson while doing the test, this way you will know for sure that you got everything right.
8 0
3 years ago
A company's ________ serve as instructions for people to follow when accomplishing an activity on a computer.
Nimfa-mama [501]

A company's procedures serve as instructions for people to follow when accomplishing an activity on a computer. The order of the steps to be performed to make something happen or how something is done is the definition of process. A method would be to crack eggs into a bowl, beat them, and then scramble them in a skillet. a specific way to carry out an activity.

Workplace policies have a direct relationship with workplace procedures. A process is a set of instructions outlining how to carry out a policy. Employees are given a thorough awareness of the company's norms and ideals through the use of both policies and procedures.

To learn more about procedures, click here.

brainly.com/question/27176982

#SPJ4

4 0
1 year ago
Garcia company has 10,000 units of its product that were produced last year at a total cost of $150,000. the units were damaged
timurjin [86]

Answer and Explanation:

The computation of the incremental net income is shown below:

<u>Particulars    Sell          Process Further      Incremental Net income </u>

Sales        $20,000.00    $50,000.00        $30,000.00

          (10,000 units × $2)  (10,000 × $5)

Less:

Additional

Processing cost                 $18,000.00          $18,000.00

Total        $20,000.00      $32,000.00          $12,000.00

4 0
3 years ago
When the price of a good increases, it undoubtedly hurts individual consumers, since they now have to pay more for a particular
ludmilkaskok [199]

Answer:

The answers that apply are:

(B) The price for a hunting license is increased in an effort to reduce the number of hunters.

(C) A law is passed increasing the price of cigarettes in an effort to decrease secondhand smoke.

Explanation:

Hunting is a practice that governments are trying to control and decrease.  So if government want to decrease the amount of people hunting they should increase the price of the licence.

Smoking is unhealthy,  so the law increase the price for healthy reasons.  

5 0
3 years ago
Other questions:
  • What strategic plans could be adopted by the college or university at which you are taking this management course to compete for
    13·1 answer
  • Why are the premiums for a PPO health insurance plan generally more expensive than those for an HMO Health Insurance Plan?
    10·2 answers
  • Assume that the following balance sheet portrays the state of the banking system. the banks currently have no excess reserves.
    7·1 answer
  • Discuss the importance of national income statistics to the government of Ghana
    5·1 answer
  • Khi thu nhập giảm, các yếu tố khác không đổi, giá cả và sản lượng cân bằng mới của hàng hóa thông thường sẽ:
    10·1 answer
  • 3. Consider the following price indexes: 2 pts
    8·1 answer
  • Eco Strip Inc. makes a paint remover which is made up of two direct materials, X and Y. The standard costs and standard quantiti
    11·1 answer
  • A computer sends a packet of information along a channel and waits for a return signal acknowledging that the packet has been re
    8·1 answer
  • In the Capacity Allocation problem with two classes, companies have to determine Group of answer choices How many discount custo
    6·1 answer
  • Which of these social sciences deals most with models of behavior rather than with thought processes?
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!