Bentley Inc. had the following balances:AccountCashAccounts receivablePrepaid interestMachineryLandAccounts payableSalaries payableShort-term notes payableLong-term notes payableConsulting revenue earnedRent expense, selling spaceStore supplies expense2023$28,50064,00015,00094,000103,50056,00075,00094,50097,50092,00072,00038,0002022$43,50043,50018,500152,500104,00075,500132,00063,500147,000135,500103,50088,000a) Calculate the working capital for 2023 and 2022. Please make sure your final answer(s) are accurate to the nearest whole number.2023 2022Working capitalb) Is the change in working capital favourable or unfavourable?The change in working capital is (select one)

The working capital is calculated as difference between current assets and liabilities and current…

Bentley Inc. had the following balances: Account Cash Accounts receivable Prepaid interest Machinery Land Accounts payable Salaries payable Short-term notes payable Long-term notes payable Consulting revenue earned Rent expense, selling space Store supplies expense 2023 $28,500 64,000 15,000 94,000 103,500 56,000 75,000 2022 $43,500 43,500 18,500 152,500 104,000 75,500 132,000 94,500 97,500 92,000 135,500 72,000 103,500 38,000 88,000 63,500 147,000 a) Calculate the working capital for 2023 and 2022. Please make sure your final answer(s) are accurate to the nearest whole number. 2023 2022 Working capital b) is the change in working capital favourable or unfavourable? The change in working capital is (select one)

Bentley Inc. had the following balances: Account Cash Accounts receivable Prepaid interest Machinery Land Accounts payable Salaries payable Short-term notes payable Long-term notes payable Consulting revenue earned Rent expense, selling space Store supplies expense 2023 $28,500 64,000 15,000 94,000 103,500 56,000 75,000 2022 $43,500 43,500 18,500 152,500 104,000 75,500 132,000 94,500 97,500 92,000 135,500 72,000 103,500 38,000 88,000 63,500 147,000 a) Calculate the working capital for 2023 and 2022. Please make sure your final answer(s) are accurate to the nearest whole number. 2023 2022 Working capital b) is the change in working capital favourable or unfavourable? The change in working capital is (select one)

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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