Presented below is a partial trial balance for the Messenger Corporation at December 31, 2013. Additional information:
1. The note receivable, along with any accrued interest, is due on November 1, 2014.
2. The note payable is due in 2018. Interest is payable annually.
3. The marketable securities consist of equity securities of other corporations. Management does not intend to sell any of the securities in the next year.
4. Unearned revenue will be earned equally over the next 18 months.
Required:
Determine the company's working capital (current assets minus current liabilities) at December 31, 2013.

Question

Presented below is a partial trial balance for the Messenger Corporation at December 31, 2013.  Additional information:
1. The note receivable, along with any accrued interest, is due on November 1, 2014.
2. The note payable is due in 2018. Interest is payable annually.
3. The marketable securities consist of equity securities of other corporations. Management does not intend to sell any of the securities in the next year.
4. Unearned revenue will be earned equally over the next 18 months.
Required:
Determine the company's working capital (current assets minus current liabilities) at December 31, 2013.

Quizplus · Accepted Answer

The Answer of Presented below is a partial trial balance for the Messenger Corporation at December 31, 2013.  Additional information:
1. The note receivable, along with any accrued interest, is due on November 1, 2014.
2. The note payable is due in 2018. Interest is payable annually.
3. The marketable securities consist of equity securities of other corporations. Management does not intend to sell any of the securities in the next year.
4. Unearned revenue will be earned equally over the next 18 months.
Required:
Determine the company's working capital (current assets minus current liabilities) at December 31, 2013.

Presented Below Is a Partial Trial Balance for the Messenger