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[Answered] Use the following data to determine the total amount of working capital. $393100 $183100 $363100 $133100…..

Author: Client Uploads
November 3rd, 2021

Use the following data to determine the total amount of working capital. Cheyenne Corp. Balance Sheet December 31, 2017 Cash Accounts receivable Inventory Prepaid insurance Stock investments (long-term) Land Buildings Less: Accumulated depreciation Trademarks Total assets $205000 27000 236000 $468000 $200000 Accounts payable Salaries and wages payable Mortgage payable 147000 162000 86100 Total liabilities 261000 261000 $391600 736000 $1127600 $1595600 Common stock $320000 (60500)259500 Retained earnings Total stockholders equity Total liabilities and stockholders equity 219000 $1595600 $393100 $183100 O$363100o o $133100

Use the following data to determine the total amount of working capital. $393100 $183100 $363100 $133100

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Expert Answer

Total current assets=(Cash+_AR+Inventory+Prepaid insurance_)

=(200,000+147000+162000+86100)=$595100

Total current liabilities=(AP+Salaries and wages payable)

=(205000+27000)=$232000

Hence Working capital=Current assets-Current liabilities

=$595100-$232000

=$363100(C).

 

 

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