Use the Following Data to Determine the Total Amount of Working
Question 57
Question 57
Multiple Choice
Use the following data to determine the total amount of working capital. Edie’s Flomer Shoppe Balance Sheet December 31,2022 Cash Accounts receivable Inventory Prepaid insurance Stock investments Land Buildings Less: Accumulated depreciation (60,000) Trademarks Total assets $126,000120,000210,00090,000255,000285,000$339,000279,000210,000$1575,000 Accounts payable Salaries and wages payable Mortgage payable Total liabilities Common stock Retained earnings Total stockholders’ equity Total liabilities and stockholders’ equity $165,00030,000270,000465,000$360,000750,0001,110,000$1,575,000
A) $606000 B) $351000 C) $381000 D) $261000
Correct Answer:
Verified
Unlock this answer now Get Access to more Verified Answers free of charge