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Use the following data to determine the total amount of working capital. Koonce Office SuppliesBalance SheetDecember 31, 2012Cash $ 130,000 Accounts Payable $ 140,000Prepaid Insurance 60,000 Salaries Payable 20,000Accounts Receivable 100,000 Mortgage Payable 160,000Inventory 140,000 Total Liabilities $320,000Land held for Investment 150,000Land 180,000Buildings $200,000 Common Stock $240,000Less Accumulated Retained Earnings 500,000Depreciation (40,000) 160,000 Total Stockholders’ Equity $740,000Trademarks 140,000 Total Liabilities andTotal Assets $1,060,000 Stockholders’ Equity $1,060,000a. $270,000.b. $590,000.c. $150,000.d. $120,000.
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Use the following data to determine the total amount of working capital. Koonce Office SuppliesBalan...
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