Angela Corporation has the following selected assets and liabilities: Given the said data, determine the company’s net working capital.(check the photo)Choose the letter of correct answera. P35,000.00b. P39,000.00c. P33,000.00d. P72,000.00e. P52,000.00 CashP15,000Accounts receivableP20,000InventoryP37,000LandP70,000BuildingP190,000GoodwillP26,000Accounts payableSalaries payableTaxes payableP13,000P7,000P19,000Mortgage payableP80,000Common stockP100,000Retained earningsP82,000

Current assets = Cash + Accounts receivable + Inventory Current assets = 15,000 + 20,000 + 37,000…

Angela Corporation has the following selected assets and liabilities: Given the said data, determine the company’s net working capital. (check the photo) Choose the letter of correct answer a. P35,000.00 b. P39,000.00 c. P33,000.00 d. P72,000.00 e. P52,000.00

Angela Corporation has the following selected assets and liabilities: Given the said data, determine the company’s net working capital. (check the photo) Choose the letter of correct answer a. P35,000.00 b. P39,000.00 c. P33,000.00 d. P72,000.00 e. P52,000.00

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

Angela Corporation has the following selected assets and liabilities: Given the said data, determine the company’s net working capital.

(check the photo)

Choose the letter of correct answer

a. P35,000.00
b. P39,000.00
c. P33,000.00
d. P72,000.00
e. P52,000.00

Cash
P15,000
Accounts receivable
P20,000
Inventory
P37,000
Land
P70,000
Building
P190,000
Goodwill
P26,000
Accounts payable
Salaries payable
Taxes payable
P13,000
P7,000
P19,000
Mortgage payable
P80,000
Common stock
P100,000
Retained earnings
P82,000

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