Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the following balance sheet information is provide

The following balance sheet information is provided for Apex Company for Year 2: ...

70.2K

Verified Solution

Question

Accounting

The following balance sheet information is provided for Apex Company for Year 2:

Assets
Cash $ 5,800
Accounts receivable 11,950
Inventory 14,900
Prepaid expenses 1,700
Plant and equipment, net of depreciation 19,600
Land 13,500
Total assets $ 67,450
Liabilities and stockholders' equity
Accounts payable $ 2,850
Salaries payable 8,130
Bonds payable (due in ten years) 12,500
Common stock, no par 16,000
Retained earnings 27,970
Total liabilities and stockholders' equity $ 67,450

What is the company's working capital?

Multiple Choice

$22,300

$5,300

$19,700

$23,370

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Physics
1.2K views

Delete

Finance
1.2K views

A proposed project to build handicap ramps for side-load vans requires an investment of $1,500,000, to...

Accounting
1.2K views

Required information [The following information applies to the questions displayed below.] Comparative financial statements for Weaver Company follow: Weaver...

Biology
1.2K views

Write the medical term without separation marks slashes from the definition white cell

Physics
1.2K views

Two point masses M are kept fixed on the x axis at a distance a...

Geometry
1.2K views

19 Part 3 of 3 3 points Variable costs Contribution margin Fixed costs Income Sales...

Accounting
1.2K views

CHAPTER 18 3. In previous years, Cox Transport reacquired 2 million treasury shares at $20...

Accounting
1.2K views

The stockholders equity section of Day Corporations balance sheet at January 1 follows: ...

Accounting
1.2K views

Your medical practice actually received cash receipts much lower than expected. Stand alone explanation might...

Accounting
1.2K views

If a taxpayer has not received her 90 day letter, how might she toll interest...

Accounting
1.2K views

Shining Cookie Company, Inc., in Murfreesboro, TN bought a new ice cream maker at the...

Accounting
1.2K views

Titus Company produced 3,100 units of a product that required 4.776 standard hours per unit....