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Question: You are attempting to categorize several items from your company's financial statements so you can determine your working capital. You notices the following categories of accounts and amounts: cash, $3,000; accounts payable, $10,000; accounts receivable, $15,000; sales taxes due city of Cleveland, $700; sales taxes due the Cleveland Department of Revenue, $3,000; inventory, $17,000; wages payable, $5,000; taxes payable (federal), $2,000; and money market fund, $12,000.

Determine the amount of net working capital.

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M92778609

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