Use the following data to determine the total amount of working capital. Ace Supply Company Balance Sheet December 31, 2025 Cash Accounts receivable Inventory Short-term investments. Land (held for future use) Land Buildings Less: Accumulated $339,000 depreciation (60.000) Franchise Total assets $ 126,000 120,000 210,000 90,000 255,000 285,000 210,000 $1.575.000 Accounts payable: Salaries and wages payable Note payable (due 2028) Total liabilities i Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 279,000 $ 165,000 30,000 270.000 465,000 360,000 750.000 1.110.000 $1.575.000
Use the following data to determine the total amount of working capital. Ace Supply Company Balance Sheet December 31, 2025 Cash Accounts receivable Inventory Short-term investments. Land (held for future use) Land Buildings Less: Accumulated $339,000 depreciation (60.000) Franchise Total assets $ 126,000 120,000 210,000 90,000 255,000 285,000 210,000 $1.575.000 Accounts payable: Salaries and wages payable Note payable (due 2028) Total liabilities i Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 279,000 $ 165,000 30,000 270.000 465,000 360,000 750.000 1.110.000 $1.575.000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Use the following data to determine the total amount of working capital.
Ace Supply Company
Balance Sheet
December 31, 2025
Cash
Accounts receivable
Inventory
Short-term investments.
Land (held for future use)
Land
Buildings
Less: Accumulated
$339,000
depreciation (60.000)
Franchise
Total assets
$ 126,000
120,000
210,000
90,000
255,000
285,000
210,000
$1.575.000
Accounts
payable
Salaries and wages
payable
Note payable (due
2028)
Total liabilities i
Common stock
Retained
earnings
Total stockholders'
equity
Total liabilities and
stockholders' equity
279,000
$ 165,000
30,000
270.000
465,000
360,000
750.000
1.110.000
$1.575.000
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