What is the value of the current liabilities? Warehouse has net working capital of$2,400, total assets of $19,300, and net fixedassets of $10,200. What is the value of thecurrent liabilities?a. -$6,700b. -$2,900c. $2,900d. $6,700e. $11,500

Step 1: Define Current LiabilitiesIn accounting and business, the current liabilities refer to the…

Answered: Warehouse has net working capital of…

Principles of Accounting Volume 1

19th Edition

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Author:OpenStax

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Chapter5: Completing The Accounting Cycle

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Problem 16MC: If current assets are $100,000 and current liabilities are $42,000, what is the working capital? A....

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Mondesto Company has the following debts: Unsecured creditors . . . . . . . $230,000Liabilities with priority . . . . . 110,000Secured liabilities:Debt 1, $210,000; value of pledged asset . . . . . . . . . . . . . . . . . . . . 180,000Debt 2, $170,000; value of pledged asset . . . . . . . . . . . . . . . . . . . . 100,000Debt 3, $120,000; value of pledged asset . . . . . . . . . . . . . . . . . . . . 140,000 The company also has a number of other assets that are not pledged in any way. The creditors holding Debt 2 want to receive at least $142,000. For how much do these free assets have to be sold so that the creditors associated with Debt 2 will receive exactly $142,000?
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Use the following information for the next three questions:The ledger of COLTISH UNDISCIPLINED Co. in 20x1 includes the following:Jan. 1, 20x1 Dec. 31, 20x1Current assets 1,200,000 ? Noncurrent assets 4,000,000 ? Current liabilities 900,000 1,000,000Noncurrent liabilities ? 3,000,000 Additional information:- COLTISH’s working capital as of December 31, 20x1 is twice as much as the working capital as of January 1, 20x1. - Total equity as of January 1, 20x1 is ₱1,700,000. Profit for the year is ₱2,400,000 while dividends declared amounted to ₱1,000,000. There were no other changes in equity during the year.How much is the total noncurrent liabilities as of January 1, 20x1?a. 2,600,000b. 2,800,000c. 3,200,000d. 3,400,000
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Warehouse has net working capital of $2,400, total assets of $19,300, and net fixed assets of $10,200. What is the value of the current liabilities? a. -$6,700 b. -$2,900 c. $2,900 d. $6,700 e. $11,500