Saunders Corp. has a book net worth of $7,450. Long-term debt is $1,500. Net working capital,...
Saunders Corp. has a book net worth of $7,450. Long-term debt is $1,500. Net working capital, other than cash, is $1,950. Fixed assets are $1,850 and current liabilities are $1,000. Required: (a) How much cash does the company have? (b) What is the value of the current assets?
Homework Answers
(1)
Net working capital = current asset - current liabilities
Net worth = total assets - total liabilities
$7450 = (fixed assets + current assets excluding cash + cash) - (long term debt + current liability)
$7450 = fixed asset + cash - long term debt + (current assets excluding cash - current liabilities)
$7450 = $1850 + cash - $1500 + $1950
cash = $5150
(2)
Net working capital including cash = current assets - current liabilities
$1950 + $5150 = current assets - $1000
current asset = $8100
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