10:12 amInsu Company had the following accountsand balances on June 30, 2018.AccountAmountCashS50,000Account Receivable18,000Supplies3,000Prepaid Insurance14,000Inventory12,500Land90,000Account Payable16,000Notes Payable due on December 31, 201826,000Uncarned Service Revenue18,000Common Stock30,000Retained Earnings97,500 The Working Capital for Insu Company fromthe information provided above is: *$37,000O $63,500$37,500$25,000None of the above

Working capital means the amount which is invested in day to day business of the company. Working…

Answered: The Working Capital for Insu Company…

The Working Capital for Insu Company from the information provided above is: * $37,000 $63,500 $37,500 $25,000 O None of the above

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

10:12 am
Insu Company had the following accounts
and balances on June 30, 2018.
Account
Amount
Cash
S50,000
Account Receivable
18,000
Supplies
3,000
Prepaid Insurance
14,000
Inventory
12,500
Land
90,000
Account Payable
16,000
Notes Payable due on December 31, 2018
26,000
Uncarned Service Revenue
18,000
Common Stock
30,000
Retained Earnings
97,500

The Working Capital for Insu Company from
the information provided above is: *
$37,000
O $63,500
$37,500
$25,000
None of the above

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