From the following balances for Alpha Inc., calculate the working capital of the company. Items Amount...
From the following balances for Alpha Inc., calculate the working capital of the company.
| Items | Amount ($) |
|---|---|
| Accounts payable | 50,000 |
| Inventory | 80,000 |
| Tax payable | 10,000 |
| Cash at bank | 80,000 |
| Prepaid rent | 2,000 |
Homework Answers
Current assets = Inventory + Cash at bank + Prepaid rent = $80,000 + $80,000 + $2,000 = $162,000
Current liabilities = Accounts payable + Tax payable = $50,000 + $10,000 = $60,000
Working capital = Current assets - Current liabilities
Working capital = $162,000 - $60,000
Working capital = $102,000
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From the following balances for Alpha Inc., calculate the
working capital of the company.
Items
Amount...
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