Cash20,000Accounts receivable60,000Inventory100,000Prepaid insurance5,000Long-term AssetsAccounts payable200,00050,000Notes payable, due in 8 monthsWages payable25,00010,000Long-term liabilitiesStockholder's equity80,000220,000How much is the working capital? Answerformat: 123,456 *Your answerWhat is the current ratio? Answer format:1.23:1*Your answerWhat is the quick ratio? Answer format: 1.23:1

Name: Cash20,000Accounts receivable60,000Inventory100,000Prepaid insurance5
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Description: Cash20,000Accounts receivable60,000Inventory100,000Prepaid insurance5,000Long-term AssetsAccounts payable200,00050,000Notes payable, due in 8 monthsWages payable25,00010,000Long-term liabilitiesStockholder's equity80,000220,000How much is the workin

Current Assets Amount Cash 20,000 Accounts Receivable 60,000 Inventory…

Business

Accounting

Cash 20,000 Accounts receivable 60,000 Inventory Prepaid insurance Long-term Assets Accounts payable 100,000 5,000 200,000 50,000 Notes payable, due in 8 months Wages payable 25,000 10,000 80,000 Long-term liabilities Stockholder's equity 220,000 How much is the working capital? Answer format: 123,456 * Your answer What is the current ratio? Answer format: 1.23:1* Your answer What is the quick ratio? Answer format: 1.23:1

Cash 20,000 Accounts receivable 60,000 Inventory Prepaid insurance Long-term Assets Accounts payable 100,000 5,000 200,000 50,000 Notes payable, due in 8 months Wages payable 25,000 10,000 80,000 Long-term liabilities Stockholder's equity 220,000 How much is the working capital? Answer format: 123,456 * Your answer What is the current ratio? Answer format: 1.23:1* Your answer What is the quick ratio? Answer format: 1.23:1

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

Practice Pack

OFFON

Cash
20,000
Accounts receivable
60,000
Inventory
100,000
Prepaid insurance
5,000
Long-term Assets
Accounts payable
200,000
50,000
Notes payable, due in 8 months
Wages payable
25,000
10,000
Long-term liabilities
Stockholder's equity
80,000
220,000
How much is the working capital? Answer
format: 123,456 *
Your answer
What is the current ratio? Answer format:
1.23:1*
Your answer
What is the quick ratio? Answer format: 1.23:1

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