Question
In: Finance
BuildemBig, Inc. has $10,000 in their bank account, $25,000 in inventory, $35,000 in accounts receivable, $15,000...
BuildemBig, Inc. has $10,000 in their bank account, $25,000 in inventory, $35,000 in accounts receivable, $15,000 in payables, and $2,000 in accrued wages.
a. What is their net working capital?
Solutions
Expert Solution
Net working capital= Current Assets- Current Liabilities
= (Cash in bank account + Inventory + Accounts receivables) – (Payables + Accrued wages)
= ($10,000 + $25,000 + $35,000) – ($15,000 + $2,000)
= $70,000 - $17,000
= $53,000.
In case of any query, kindly comment on the solution.
jeff jeffy answered 1 year agoRelated Solutions
SMC, Inc. Balance Sheet December 31, 2018 Assets Cash ... $34,500 Accounts receivable .25,000 Inventory ..10,000...
SMC, Inc. Balance Sheet December 31, 2018
Assets
Cash ... $34,500 Accounts receivable .25,000 Inventory ..10,000
Supplies .. 200 Total assets.. $69,700 Liabilities and
Stockholders’ Equity Liabilities: Accounts payable .. $12,000
Salaries payable .. 1,000 Income taxes payable .. 3,675 Total
liabilities.. $16,675 Stockholders’ equity: Capital stock (10,000
shares outstanding).. $25,000 Retained earnings .. 28,025 Total
stockholders’ equity ...53,025 Total liabilities and stockholders’
equity.. $69,700
SMC, Inc. Income Statement For the Year Ended
December31,2018
Sales revenue .. $110,000 Rent revenue.....
Deedle company began the year with the following account balances: Cash $15,000 Accounts receivable $42,000 Inventory...
Deedle company began the year with the following account
balances:
Cash
$15,000
Accounts receivable
$42,000
Inventory
$33,000
Accounts payable
$24,000
Paid-in capital
$45,000
Retained earnings
$21,000
During the year, Deedle had the following
transactions:
a. Borrowed $30,000 on a long-term loan
b. Interest expense for the year was $3,000. This amount
has not yet been paid in cash
c. Sales for the year were $500,000, all on
account
d. Cash collections of accounts receivable,
$280,000
e. Purchased inventory on account,...
Deedle company began the year with the following account balances: Cash $15,000 Accounts receivable $42,000 Inventory...
Deedle company began the year with the following account
balances:
Cash
$15,000
Accounts receivable
$42,000
Inventory
$33,000
Accounts payable
$24,000
Paid-in capital
$45,000
Retained earnings
$21,000
During the year, Deedle had the following
transactions:
a. Borrowed $30,000 on a long-term loan
b. Interest expense for the year was $3,000. This amount
has not yet been paid in cash
c. Sales for the year were $500,000, all on
account
d. Cash collections of accounts receivable,
$280,000
e. Purchased inventory on account,...
Privett Company Accounts payable $ 30,000 Accounts receivable 35,000 Accrued liabilities 7,000 Cash 25,000 Intangible assets...
Privett Company Accounts payable $ 30,000 Accounts receivable
35,000 Accrued liabilities 7,000 Cash 25,000 Intangible assets
40,000 Inventory 72,000 Long-term investments 100,000 Long-term
liabilities 75,000 Marketable securities 36,000 Notes payable
(short-term) 20,000 Property, plant, and equipment 400,000 Prepaid
expenses 2,000 Based on the data for Privett Company, what is the
amount of quick assets? $61,000 $60,000 $96,000 $168,000
Date please white general ledger : cash at bank, accounts receivable, inventory,account payable, bank loan payable,...
Date
please white general ledger : cash at bank, accounts receivable,
inventory,account payable, bank loan payable,
Transaction description
1
Obtained a loan of $48,000 from
MRMC Bank at a simple interest rate of 6% per year. The first
interest payment is due at the end of August 2018 and the principal
of the loan is to be repaid on 1 June 2021.
2
Sold 9 boxes of Sprearmint Gum to
Sweet Tooth for $100 each, Invoice No. 201.
3
Purchased...
The company has 25,000 in cash; 25,000 in bank; 10,000 on debts; 50,000 in customers; 100,000...
The company has 25,000 in cash; 25,000 in bank; 10,000 on debts;
50,000 in customers; 100,000 in office equipment;25,000 creditors
and 45,000 suppliers.
to. How much short-term assets do you have?
b.How much do you have of liabilities?
c. How much capital do you have?
On january 1,2018 carly company has account receivable $109,000 and allowance for doubtful accounts $10,000. carly...
On january 1,2018 carly company has account receivable $109,000
and allowance for doubtful accounts $10,000. carly prepares
financial statement annually. During the year the following
selected transactions occurred.
Jan 5 Sold $12,000 of merchandise to Sam company terms n/30
Feb 2 Accepted a $12,000, 4-month, 10% promissory note from sam
company for the balance due.
Feb 12 Sold$15,000 of merchandise to Neville company and
accepted neville $15,000, 2-month , 10% note for the balance
due.
Apr 12 Collected Neville company...
Account Dr Cr Cash 120,000 Accounts Receivable 45,000 Investments 50,000 Inventory 65,000 Prepaid Insurance 10,000 Note...
Account
Dr
Cr
Cash
120,000
Accounts Receivable
45,000
Investments
50,000
Inventory
65,000
Prepaid Insurance
10,000
Note Receivable
50,000
Equipment
190,000
Patent
80,000
A/C Payable
58,000
Unearned Revenue
6,000
Bank Loan Payable
100,000
Common Stock
102,000
Retained Earnings
295,000
Dividends
5,000
Sales
1,620,000
Dividend income
3,000
Cost of Goods Sold
1,000,000
Salaries Exp
300,000
Accounting Exp
75,000
Advt Exp
70,000
Rent Exp
100,000
Utilities Exp
20,000
Miscellaneous Expense
4,000
Total
2,184,000
2,184,000
Prepare adjusting journal entries.
a) Audit of cash in...
Insurance Expense $12,000 Accounts Receivable $10,000 Cash 37,000 Notes Payable 15,000 Accounts Payable 13,000 Willis, Capital,...
Insurance Expense
$12,000
Accounts Receivable
$10,000
Cash
37,000
Notes Payable
15,000
Accounts Payable
13,000
Willis, Capital, Dec. 31, 2018
?
Advertising Expense
2,000
Salaries Expense
21,000
Service Revenue
125,000
Equipment
105,000
Willis, Withdrawals
9,000
Owner contribution
25,000
PrintDone
Accent PhotographyAccent Photography
works weddings and prom-type parties. The balance of
WillisWillis,
Capital was
$ 18 comma 000$18,000
at
DecemberDecember
3131,
20172017.
At
DecemberDecember
3131,
20182018,
the business's accounting records show these balances:
LOADING...
(Click the icon to view the accounts.)
Prepare...
Snow Man Inc. has accounts receivable of $4,500, inventory of $1,800, sales of $135,000, and cost...
Snow Man Inc. has accounts receivable of $4,500, inventory of
$1,800, sales of $135,000, and cost of goods sold of $64,000. How
many days does it take the firm to sell its inventory and collect
the payment on the sale assuming that all sales are on credit?
(i.e. Inventory Holding Period + Days' sales in
receivables)
10.27 days
18.67 days
14.50 days
22.43 days
12.17 days
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