A company has the following account balances. Which statement is correct concerning these balances? Ending Beginning Balance Balance $ 16,400 $ 17,800 20,300 24,400 63,600 60,100 127,500 125,800 212,400 215,900 Account Accounts receivable. Accounts payable. Inventory Long-term debt Common stock Multiple Choice O Accounts receivable is a $1,400 source of cash. Common stock is a $3,500 source of cash. Net working capital, excluding cash, is a $6,100 use of cash.
A company has the following account balances. Which statement is correct concerning these balances? Ending Beginning Balance Balance $ 16,400 $ 17,800 20,300 24,400 63,600 60,100 127,500 125,800 212,400 215,900 Account Accounts receivable. Accounts payable. Inventory Long-term debt Common stock Multiple Choice O Accounts receivable is a $1,400 source of cash. Common stock is a $3,500 source of cash. Net working capital, excluding cash, is a $6,100 use of cash.
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
Chapter6: Cash And Receivables
Section: Chapter Questions
Problem 13GI
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![A company has the following account balances. Which statement is correct concerning these balances?
Beginning
Ending
Balance.
Balance
$ 16,400
Account
Accounts receivable
Accounts payable
Inventory
Long-term debt
Common stock
Multiple Choice
20,300
63,600
127,500
125,800
212,400 215,900
Accounts receivable is a $1,400 source of cash.
$ 17,800
24,400
60,100
O Common stock is a $3.500 source of cash.
Net working capital, excluding cash, is a $6,100 use of cash.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc9b85d9c-d60f-4f64-b785-3b42d9bd0efb%2F3c00c291-06c3-4524-9712-70ef46acbdca%2Fs3mh7ut_processed.jpeg&w=3840&q=75)
Transcribed Image Text:A company has the following account balances. Which statement is correct concerning these balances?
Beginning
Ending
Balance.
Balance
$ 16,400
Account
Accounts receivable
Accounts payable
Inventory
Long-term debt
Common stock
Multiple Choice
20,300
63,600
127,500
125,800
212,400 215,900
Accounts receivable is a $1,400 source of cash.
$ 17,800
24,400
60,100
O Common stock is a $3.500 source of cash.
Net working capital, excluding cash, is a $6,100 use of cash.
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