Portions of the balance sheet for a small firm are shown below (note the balance sheet does not provide all accounts and thus what is shown doesn't necessarily balance. This should not affect your answer.) What is this firm's Net Working Capital? Be sure to express your answer in whole dollars with no $ sign or commas. Thus if your answer is $53,100.25, you should enter your answer as 53100

Portions of the balance sheet for a small firm are shown below (note the balance sheet does not provide all accounts and thus what is shown doesn't necessarily balance. This should not affect your answer.) What is this firm's Net Working Capital? Be sure to express your answer in whole dollars with no $ sign or commas. Thus if your answer is $53,100.25, you should enter your answer as 53100

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Description: Portions of the balance sheet for a small firm are shown below (note the balancesheet does not provide all accounts and thus what is shown doesn't necessarilybalance. This should not affect your answer.) What is this firm's Net WorkingCapital?Be sur

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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Concept explainers

Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is

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Question

Portions of the balance sheet for a small firm are shown below (note the balance
sheet does not provide all accounts and thus what is shown doesn't necessarily
balance. This should not affect your answer.) What is this firm's Net Working
Capital?
Be sure to express your answer in whole dollars with no $ sign or commas. Thus if your
answer is $53,100.25, you should enter your answer as 53100
Current
Assets
Cash
Accounts
Receivable
Inventory
Long Term
Assets
Net Property
Plant &
Equipment
$15,307
$34,604
$30,000
$175,000
Current
Liabilities
Accounts
Payable
Short Term
Loans
Long Term
Liabilities &
Owners
Equity.
Long Term
Debt
Retained
Earnings
$42,476
$21,751
$100,000
$150,000

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