The financial statements for Uptown Service Company include the following items:

Compute working capital for 2019.

Question

The financial statements for Uptown Service Company include the following items:

Compute working capital for 2019.

Quizplus · Accepted Answer

C)
Working capital = Current assets - Current liabilities
Working capital = (Cash $50,500 + Short-term Investments $32,000 + Net Accounts Receivable $52,000 + Merchandise Inventory $157,000)- (Accounts Payable $124,500 + Salaries Payable $16,000)
Working Capital = $291,500 - 140,500
Working Capital = $151,000

The Financial Statements for Uptown Service Company Include the Following