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12/31/2018 12/31/2019 Accounts payable $2,300 $6,400 Accounts receivable 3,500 8,400 Cash 4,600 21,000 Prepaid advertising 1,700 4,400 Utilities payable 1,000 6,600 Wages payable 1,700 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 Accounts payable $2,300 $6,400 Accounts receivable 3,500 8,400 Cash 4,600 21,000 Prepaid advertising 1,700 4,400 Utilities payable 1,000 6,600 Wages payable 1,700 9,100 Using the above account balances, compute working capital and current ratio.. Round "Current ratio" answers to two decimal places.

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 30BEB: Klynveld Companys balance sheet shows total liabilities of 94,000,000, total stockholders equity of...
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12/31/2018 12/31/2019 Accounts payable $2,300 $6,400 Accounts receivable 3,500 8,400 Cash 4,600 21,000 Prepaid advertising 1,700 4,400 Utilities payable 1,000 6,600 Wages payable 1,700 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 B. Current ratio
Transcribed Image Text:12/31/2018 12/31/2019 Accounts payable $2,300 $6,400 Accounts receivable 3,500 8,400 Cash 4,600 21,000 Prepaid advertising 1,700 4,400 Utilities payable 1,000 6,600 Wages payable 1,700 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 B. Current ratio
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