The following amounts pertain to the ABC Corporation at December 31: Total current assets $ 300,000 Total...
The following amounts pertain to the ABC Corporation at December 31:
|
Total current assets |
$ 300,000 |
|
Total fixed assets |
2,200,000 |
|
Total assets |
2,500,000 |
|
Total current liabilities |
120,000 |
|
Total liabilities |
1,600,000 |
|
Total paid-in capital |
400,000 |
|
Total equity |
900,000 |
ABC’s working capital at December 31 is
-
A.$400,000
-
B.$180,000
-
C.$500,000
-
D.$900,000
Homework Answers
Working capital = Current assets - Current liabilities
= 300000 - 120000
= 180000
Correct choice B
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