The above diagram shows a balance sheet for a certain company. If the company pays back all of its accounts payable today using cash, what will its net working capital be?
Balance Sheet
Assets Liabilities
Current Assets Current Liabilities
Cash 49 Accounts payable 38
Accounts receivable 21 Notes payable/short-term debt 5
Inventories 18
Total current assets 88 Total current liabilities 43
Long-Term Assets Long-Term Liabilities
Net property, plant,
and equipment 122 Long-term debt 134
Total long-term assets 122 Total long-term liabilities 134
Total Liabilities 177
Stockholders' Equity 33
Total Assets 210 Total Liabilities and 210
Stockholders' Equity
A) $131 million
B) $6 million
C) $88 million
D) $45 million
Answer: D
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Martin Corporation granted an incentive stock option to employee Caroline on January 1, 2012. The option price was $150, and the FMV of the Martin stock was also $150 on the grant date. The option allowed Caroline to purchase 160 shares of Martin stock. Caroline exercised the option on August 1, 2016, when the stock's FMV was $250. Unless otherwise stated, assume Caroline is a qualifying employee. If Caroline sells the stock on September 5, 2018, for $350 per share, she must recognize (ignore alternative minimum tax)
A. long-term capital gain of $16,000 in 2018. B. long-term capital gain of $32,000 in 2018. C. ordinary income of $16,000 on the exercise date and a long-term capital gain of $16,000 in 2018. D. 0. No gain or loss is recognized at exercise or sale with incentive stock options.
________ power is NOT a source of channel power.
A. Legitimate B. Referent C. Consumer D. Reward E. Expert
You must write a sales message to prospective customers. What should you do in the opening of your sales message?
A) Offer something valuable, promise a benefit to the reader, or use some other technique to gain your reader's attention. B) Convince your reader of the superiority of the product or service being sold. C) Motivate your reader to take action. D) Promise an incentive for responding by a specific date.
Carolyn agrees to sell Marianne an antique handmade lace tablecloth for $1,500 . When Carolyn discovers that her cousin wants it too, she breaks the contract with Marianne. Marianne can ask the court to order:
a. injunctive relief. b. specific performance. c. restitution. d. equitable rescission.