$540
$710
$140
$1,050
Excerpts from Colter Corporation's most recent balance sheet appear below:
Year 2 | Year 1 | ||||||||||
Current assets: | |||||||||||
Cash | $ | 110 | $ | 140 | |||||||
Accounts receivable, net | 140 | 150 | |||||||||
Inventory | 230 | 220 | |||||||||
Prepaid expenses | 60 | 60 | |||||||||
Total current assets | 540 | 570 | |||||||||
Total current liabilities | $ | 400 | $ | 390 | |||||||
Sales on account in Year 2 amounted to $1,710 and the cost of goods sold was $1,020.
The working capital at the end of Year 2 is:
The answer for the above is
Calculation of working capital
Working capital = current assets - current liabilites
= $540 - $400
=$ 140
Working capital for the year 2 is $140
$540 $710 $140 $1,050 Excerpts from Colter Corporation's most recent balance sheet appear below: Year 2...
Excerpts from Colter Corporation's most recent balance sheet appear below: Year 2 Year 1 Current assets: Cash $ 90 $ 120 Accounts receivable, net 100 110 Inventory 170 160 Prepaid expenses 40 40 Total current assets $ 400 $ 430 Total current liabilities $ 320 $ 290 Sales on account in Year 2 amounted to $1,210 and the cost of goods sold was $720. The acid-test (quick) ratio at the end of Year 2 is closest to:
Excerpts from Colter Corporation's most recent balance sheet appear below: Year 2 Year 1 Current assets: Cash $ 107 $ 137 Accounts receivable, net 134 144 Inventory 221 211 Prepaid expenses 57 57 Total current assets 519 549 Total current liabilities $ 388 $ 375 Sales on account in Year 2 amounted to $1,635 and the cost of goods sold was $975. The acid-test (quick) ratio at the end of Year 2 is closest to: 1.00 0.77 0.62 1.34
Multiple Choice
4.09
3.75
0.83
1.20
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