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Fairmont Technologies has current assets of $5,500, net fixed assets of $30,200, current liabilities of $3,200, and long-term debt of $18,500. Required: a. What is the value of the shareholders' equity account for this firm? b. How much is the net working capital?

Fairmont Technologies has current assets of $5,500, net fixed assets of $30,200, current liabilities of $3,200, and long-term debt of $18,500. Required: a. What is the value of the shareholders' equity account for this firm? b. How much is the net working capital?

FINANCIAL ACCOUNTING
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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Fairmont Technologies has current assets of $5,500, net fixed assets of $30,200, current liabilities of $3,200, and long-term debt of $18,500. Required: a. What is the value of the shareholders' equity account for this firm? b. How much is the net working capital?
Transcribed Image Text:Fairmont Technologies has current assets of $5,500, net fixed assets of $30,200, current liabilities of $3,200, and long-term debt of $18,500. Required: a. What is the value of the shareholders' equity account for this firm? b. How much is the net working capital?
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