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mation provided for Privett Company to answer the question that follow. Privett Company Accounts payable $30,000 Accounts receivable 35,000 Accrued liabilities 7,000 Cash 25,000 Intangible assets

mation provided for Privett Company to answer the question that follow. Privett Company Accounts payable $30,000 Accounts receivable 35,000 Accrued liabilities 7,000 Cash 25,000 Intangible assets

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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    Use the information provided for Privett Company to answer the question that follow.

    Privett Company
    Accounts payable $30,000
    Accounts receivable 35,000
    Accrued liabilities 7,000
    Cash 25,000
    Intangible assets 40,000
    Inventory 72,000
    Long-term investments 100,000
    Long-term liabilities 75,000
    Notes payable (short-term) 20,000
    Property, plant, and equipment 400,000
    Prepaid expenses 2,000
    Temporary investments 36,000

    Based on the data for Privett Company, what is the amount of working capital?

    a.$213,000
    b.$153,000
    c.$39,000
    d.$113,000
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