The following balance sheet information is provided for Apex Company for Year 2: Assets Cash$5,400 Accounts receivable 15,500 Inventory 18,000 Prepaid expenses 1,600 Plant and equipment, net of depreciation 20,200 Land 19,950 Total assets$80,650 Liabilities and Stockholders' Equity Accounts payable$4,500 Salaries payable 11,500 Bonds payable (Due in ten years) 19,000 Common stock, no par 30,000 Retained earnings 15,650 Total liabilities and stockholders' equity$80,650 What is the company's working capital?
A. $22,900
B. $4,900
C. $24,500
D. $20,300
Answer: C
You might also like to view...
In a lease that is recorded as an operating lease by the lessee, the equal monthly rental payments should be
a. allocated between interest expense and depreciation expense. b. allocated between a reduction of the liability for leased assets and interest expense. c. recorded as a reduction in the liability for leased assets. d. recorded as a rental expense.
"Blips" in the data that follow no discernible pattern are referred to as
A) trend B) random variations C) seasonality D) cycles E) stationary variations
Many bonds have a call feature, which permits the firm to retire the bonds prior to maturity.?
Answer the following statement true (T) or false (F)
Verizon, a provider of cell phone service, frequently runs TV ads that feature a series of maps. One map shows how much of the country is covered by Verizon's service. The other maps show how much of the country is covered by Verizon's major competitors. These commercials are an example of
A. segmented-market advertising. B. corrective advertising. C. testimonial advertising. D. unfair advertising. E. comparative advertising.