Use the following information for questions
Cooney Corporation had $275,000 in current assets and $105,000 in current liabilities before borrowing $75,000 from the bank for a 6-month period.
-What effect did the borrowing transaction have on the amount of Cooney's working capital?
A)No effect
B)$75,000 increase
C)$105,000 increase
D)$75,000 decrease

Question

Use the following information for questions 
Cooney Corporation had $275,000 in current assets and $105,000 in current liabilities before borrowing $75,000 from the bank for a 6-month period.
-What effect did the borrowing transaction have on the amount of Cooney's working capital?
A)No effect
B)$75,000 increase
C)$105,000 increase
D)$75,000 decrease

Quizplus · Accepted Answer

The Answer of Use the following information for questions 
Cooney Corporation had $275,000 in current assets and $105,000 in current liabilities before borrowing $75,000 from the bank for a 6-month period.
-What effect did the borrowing transaction have on the amount of Cooney's working capital?
A)No effect
B)$75,000 increase
C)$105,000 increase
D)$75,000 decrease

Use the Following Information for Questions