A firm has net working capital of $850. Long-term debt is $4,180, total assets are $6,230,...
A firm has net working capital of $850. Long-term debt is $4,180, total assets are $6,230, and fixed assets are $3,910. What is the amount of the total liabilities? (Hint: Total Assets = Total Liability + Equity; Net Working Capital = Current Assets – Current Liabilities; Total Assets = Current Assets + Fixed Assets)
Homework Answers
Total Assets = Current Assets + Fixed Assets
$6,230 = Current Assets + $3,910
Current Assets = $2,320
Net Working Capital = Current Assets - Current Liabilities
$850 = $2,320 - Current Liabilities
Current Liabilities = $1,470
Total Liabilities = Current Liabilities + Long-term Debt
Total Liabilities = $1,470 + $4,180
Total Liabilities = $5,650
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