1 CHAPTERS 1-2 instructions I help value 5.00 points MC Qu. 1 Balance Sheet You

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1 CHAPTERS 1-2 instructions I help value 5.00 points MC Qu. 1 Balance Sheet You are evaluating the balance sheet for Cypress... Balance Sheet You are evaluating the balance sheet for Cypress Corporation. From the balance sheet you find the following balances: Cash and marketable securities·$620,000. Accounts receivable $820,000, Inventory $520,000. Accrued wages and taxes = $61,000. Accounts payable $202,000, and Notes payable # $1,020,000, what is Cypress's net working capital? O$1.283,000 O $3.243.000 $677,000 O $1,960,00o References MC Qu. 1 Balance Sheet You are evaluating the balance sheet for Cypress... Multiple Choice Difficulty: 1 Basic

Explanation / Answer

NET WORKING CAPITAL = CURRENT ASSETS - CURRENT LIABILITY Current Assets: Cash and marketable securities $                  6,20,000 Account receivable $                  8,20,000 inventory $                  5,20,000 Total Current Assets(A) $                19,60,000 Current Liabilities: Accrued Wages and taxes $                      61,000 Account Payable $                  2,02,000 Notes Payable $                10,20,000 Total Current Liability(B) $                12,83,000 Net Working Capital (A -B) $                  6,77,000 Answer = Option 3 = $ 677,000 Note: Your answer is correct

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