2020 LLC Balance Sheet 31 Assets Debit Credit Current Assets Cash 5,130.00 Accounts Receivable 3,300.00 Total...
2020 LLC Balance Sheet 31
Assets Debit Credit
Current Assets
Cash 5,130.00
Accounts Receivable 3,300.00
Total Current Assets 8,430.00
Property, Plant & Equipment
Equipment 12,400.00
Accumulated Depreciation (2,200.00)
Total Plant, Property & Equipment 10,200.00
Total Assets 18,630.00
Liabilities
Accounts Payable 700.00
Notes Payable- Short Term 3,070.00
Total Current Liabilities 3,770.00
Owner Equity
Members Capital 14,860.00
Total Liability & Owners Equity 18,630.00
Question. From the balance sheet, calculate working Capital.Does the firm have sufficient working capital ?
Homework Answers
Working Capital = Current assets – Current liabilities = $8430 - $3770 = $4660
Since the current assets of the firm more than cover it’s current liabilities, it may be said to have a sufficient working capital.
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2020 LLC Balance Sheet 31
Assets Debit Credit
Current Assets
Cash 5,130.00
Accounts Receivable 3,300.00
Total...
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