Based on the following data: Cash $20,000 Accounts Receivable $65,000 Marketable
ID: 2514926 • Letter: B
Question
Based on the following data:
Cash $20,000
Accounts Receivable $65,000
Marketable Securities $36,000
Inventory $72,000
Prepaid Expenses $2,000
Accounts Payable $30,000
Accrued Short-term Liabilities $7,000
Long-term Liabilities $75,000
Long-term Notes Payable $25,000
What is the amount of Working Capital?
$84,000
$158,000
$58,000
($16,000)
$84,000
$158,000
$58,000
($16,000)
Explanation / Answer
B. $158,000
Working capital = Current assets - Current liabilities
= ($20,000 + $65,000 + $36,000 + $72,000 + $2,000) - ($30,000 + $7,000)
= $158,000
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