12/31/2018 12/31/2019 Accounts payable $2,500 $6,400 Accounts receivable 3,500 8,500 Cash 4,700 19,000 Prepaid advertising 1,600 4,200 Utilities payable 1,000 6,700 Wages payable 1,800 9,100 Using the above account balances, compute working capital and current ratio. Round "Current ratio" answers to two decimal places. 12/31/2018 12/31/2019 A. Working capital $4 B. Current ratio
12/31/2018 12/31/2019 Accounts payable $2,500 $6,400 Accounts receivable 3,500 8,500 Cash 4,700 19,000 Prepaid advertising 1,600 4,200 Utilities payable 1,000 6,700 Wages payable 1,800 9,100 Using the above account balances, compute working capital and current ratio. Round "Current ratio" answers to two decimal places. 12/31/2018 12/31/2019 A. Working capital $4 B. Current ratio
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter4: The Balance Sheet And The Statement Of Shareholders' Equity
Section: Chapter Questions
Problem 7E
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