The following amounts were reported on the December 31, 2019, balance sheet:
Homework Answers
Working Capital = current Assets - Current Liabilities
Current Assets = Cash +Accounts Receivables + Invenotry =30,000+82,500+69,660
= $182,160
Current Liabilites = accounts Payable +Wages Payables =18,750+22,650
= $41,400
- Working Capital = $ 182,160-41,400 = $140,760(Answer)
- Current Ratio =Current Asets /Current Laibilites = 182160/41400= 4.4(Answer)
- Acis test Ratio = (182160-69,660)/ 41,400 = 2.7 (Answer)
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The following amounts were reported on the December 31, 2019,
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