FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Please help me with show all calculation thanku 

Use the following data to determine the total amount of working capital. Ace Supply Company Balance Sheet December 31, 2025 Cash Accounts receivable Inventory Short-term investments. Land (held for future use) Land Buildings Less: Accumulated $339,000 depreciation (60.000) Franchise Total assets $ 126,000 120,000 210,000 90,000 255,000 285,000 210,000 $1.575.000 Accounts payable Salaries and wages payable Note payable (due 2028) Total liabilities i Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 279,000 $ 165,000 30,000 270.000 465,000 360,000 750.000 1.110.000 $1.575.000
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Transcribed Image Text:Use the following data to determine the total amount of working capital. Ace Supply Company Balance Sheet December 31, 2025 Cash Accounts receivable Inventory Short-term investments. Land (held for future use) Land Buildings Less: Accumulated $339,000 depreciation (60.000) Franchise Total assets $ 126,000 120,000 210,000 90,000 255,000 285,000 210,000 $1.575.000 Accounts payable Salaries and wages payable Note payable (due 2028) Total liabilities i Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 279,000 $ 165,000 30,000 270.000 465,000 360,000 750.000 1.110.000 $1.575.000
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Step 1: Introducing Working Capital
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Step 2: Working for Computation of Working Capital
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