The Jack and Jill Co., Balance Sheet as on December 31 acompany's records show the following information:Cash$ 10,000Accounts Receivable30,000InventoryPrepaid InsuranceLong-term AssetsAccounts Payable80,0006,000200,00030,000Notes Payable due in 10 monthsWages PayableLong-term LiabilitiesStockholders' (Owner's) Equity25,0005,00070.000196,000The company's working capital isSelect one:a. $ 68,000Ob. $ 60,000c. $ 66,000d. $196,000

C. $66000 Hence Working Capital = Current Assets - Current Liblities Current Assests =…

Answered: The company's working capital is Select…

Business

Accounting

The company's working capital is Select one: O a. $ 68,000 b. $ 60,000 c. $ 66,000 d. $196,000

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter16: Financial Statements And Closing Entries For A Corporation

Section: Chapter Questions

Problem 5AP

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