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Working Capital Dorothy Corporation had the following accounts in its year-end adjusted trial balance: Inventories, $23,600; Accounts Receivable, $7,600; Accounts Payable, $7,200; Prepaid Rent, $2,400; Marketable Securities, $3,000; Allowance for Doubtful Accounts, $1,100; Cash, $1,500; Salaries Payable, $5,800; Income Taxes Payable, $4,000; Short-Term Notes Payable, $2,500; Dividends Payable, $750; and Investment in Held-to-Maturity Bonds, $2,750. Calculate Dorothy Corporation's working capital and current ratio. If required, round your current ratio answer to two decimal places. Working Capital = $ fill in the blank 1 Current Ratio = fill in the blank 2 :1

Working Capital Dorothy Corporation had the following accounts in its year-end adjusted trial balance: Inventories, $23,600; Accounts Receivable, $7,600; Accounts Payable, $7,200; Prepaid Rent, $2,400; Marketable Securities, $3,000; Allowance for Doubtful Accounts, $1,100; Cash, $1,500; Salaries Payable, $5,800; Income Taxes Payable, $4,000; Short-Term Notes Payable, $2,500; Dividends Payable, $750; and Investment in Held-to-Maturity Bonds, $2,750. Calculate Dorothy Corporation's working capital and current ratio. If required, round your current ratio answer to two decimal places. Working Capital = $ fill in the blank 1 Current Ratio = fill in the blank 2 :1

FINANCIAL ACCOUNTING
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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Working Capital Dorothy Corporation had the following accounts in its year-end adjusted trial balance: Inventories, $23,600; Accounts Receivable, $7,600; Accounts Payable, $7,200; Prepaid Rent, $2,400; Marketable Securities, $3,000; Allowance for Doubtful Accounts, $1,100; Cash, $1,500; Salaries Payable, $5,800; Income Taxes Payable, $4,000; Short-Term Notes Payable, $2,500; Dividends Payable, $750; and Investment in Held-to-Maturity Bonds, $2,750. Calculate Dorothy Corporation's working capital and current ratio. If required, round your current ratio answer to two decimal places. Working Capital = $ fill in the blank 1 Current Ratio = fill in the blank 2 :1
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