Medium Sized Retailer’s balance sheet showed total current assets of $250,000, all of which were required...
Medium Sized Retailer’s balance sheet showed total current assets of $250,000, all of which were required in operations. Its current liabilities consisted of $62,500 of accounts payable, $40,000 of 7% short–term notes payable to the bank, and $19,750 of accrued wages and taxes. What was its net operating working capital?
Homework Answers
Net operating working capital:
= operating current assets – operating current liabilities
= $250,000-($62,500+$19,750)
= $250,000-$82,250
= $167,750
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