Chang and Smith Tours has the following balance sheets: 2018 2019 Assets Cash $203 $197 Accounts...

Chang and Smith Tours has the following balance sheets: 2018 2019 Assets Cash $203 $197 Accounts Receivable 684 726 Inventory 918 1,023 Net Fixed Assets 2,014 1,989 Total Assets $3,819 $3,935 Liabilities and Equity Accounts Payable $748 $818 Notes Payable 306 302 Long-Term Debt 1,647 1,722 Stockholders' Equity 1,118 1,093 Total Liabilities and Equity $3,819 $3,935 What is the amount of net working capital for 2019? Group of answer choices

$2,815

$826

$1,128

$1,093

Expert Solution

Solution:

Calculation of Net Working Capital:

Net Working Capital=Total Current assets for 2019-Total Current liabilities for 2019

=($197+$726+$1023)-($818+$302)

=$826

Thus correct answer is $826

jeff jeffy answered 2 years ago

Chang and Smith Tours has the following balance sheets: 20182019 Assets Cash $190 $190 Accounts...

Chang and Smith Tours has the following balance sheets: 2018 2019 Assets Cash $190 $190 Accounts Receivable 684 726 Inventory 918 1,023 Net Fixed Assets 2,027 1,996 Total Assets $3,819 $3,935 Liabilities and Equity Accounts Payable $788 $818 Notes Payable 306 302 Long-Term Debt 1,647 1,722 Stockholders' Equity 1,078 1,093 Total Liabilities and Equity $3,819 $3,935 What is the change in net working capital during the year 2019? Group of answer choices$90$46$175$121

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