Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores....

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Question

Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores....

Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores.

	Debit	Credit
Accounts receivable-trade	716
Building and equipment	923
Cash-checking	38
Interest receivable	33
Inventory	27
Land	164
Notes receivable (long-term)	464
Petty cash funds	6
Prepaid rent	27
Supplies	12
Trademark	47
Accounts payable-trade		581
Accumulated depreciation		69
Additional paid-in capital		473
Allowance for uncollectible accounts		16
Cash dividends payable		28
Common stock, at par		13
Income tax payable		61
Notes payable (long-term)		884
Retained earnings		303
Deferred revenues		29
TOTALS	2,457	2,457

What is the amount of working capital for Symphony?

business accounting

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Answer 1

Answer #1



working capital = total current assets-total current liabilities
	843	-	699
	144

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Answer 2

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