2010-08-04_034256__5_busn_31911

2010-08-04_034256__5_busn_31911 - Problem 1 Joe Fellows is...

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Joe Fellows is attempting to categorize several items from his company’s financial statements so he can determine his working capital. Joe notices the following categories of accounts and amounts: cash, $3,500; accounts payable, $10,200; accounts receivable, $15,000; sales tax due the city of Phoenix, $750; sales taxes due the Arizona Department of Revenue, $3,450; inventory, $17,500; wages payable, $5,350; taxes payable (federal), $2,570; money market fund, $12,300; and computer, $3,400 1. a. List accounts classified as current assets and as current liabilities. 2. b. Determine the amount of net working capital 3. c. Determine the amount of net working capital 4. d. What is Joe’s current ratio?   a)-list  accounts  classified  as  current  assets  and as  current  liabilities. CURRE NT  ASSETS Cash. ..... .............. .............. .....   3,500 Accounts  receivabl e . .......... ..... 15,00
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2010-08-04_034256__5_busn_31911 - Problem 1 Joe Fellows is...

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