The Jack and Jill Co., Balance Sheet as on December 31 acompany's records show the following information:Cash$ 10,000Accounts Receivable30,000InventoryPrepaid InsuranceLong-term AssetsAccounts Payable80,0006,000200,00030,000Notes Payable due in 10 monthsWages PayableLong-term LiabilitiesStockholders' (Owner's) Equity25,0005,00070.000196,000The company's working capital isSelect one:a. $ 68,000Ob. $ 60,000c. $ 66,000d. $196,000

C. $66000 Hence Working Capital = Current Assets - Current Liblities Current Assests =…

Answered: The company's working capital is Select…

Business

Accounting

The company's working capital is Select one: O a. $ 68,000 b. $ 60,000 c. $ 66,000 d. $196,000

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

The Jack and Jill Co., Balance Sheet as on December 31 a
company's records show the following information:
Cash
$ 10,000
Accounts Receivable
30,000
Inventory
Prepaid Insurance
Long-term Assets
Accounts Payable
80,000
6,000
200,000
30,000
Notes Payable due in 10 months
Wages Payable
Long-term Liabilities
Stockholders' (Owner's) Equity
25,000
5,000
70.000
196,000
The company's working capital is
Select one:
a. $ 68,000
Ob. $ 60,000
c. $ 66,000
d. $196,000

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