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.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

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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