Use the Following Data to Determine the Total Amount of Working

question 20

Multiple Choice

Use the following data to determine the total amount of working capital. Koonce Office Supplies
Balance Sheet
December 31, 2017
$\begin{array}{lrlr}\text { Cash } & \$ 195,000 & \text { Accounts payable } & \$ 210,000 \\\text { Accounts receivable } & 150,000 & \text { Salaries and wages payable } & 30,000 \\\text { Inventory } & 165,000 & \text { Mortgage payable } & 240,000 \\\text { Prepaid insurance } & 90,000 & \text { Total liabilities } & \$ 480,000\\\text { Stock investments } & 255,000 \\\text { Land } & 270,000 \\\text { Buildings } \quad \$ 315,000& &\text { Common stock }&\$360,000\\\text { Less: Accumulated }&&\text { Retained earnings }&750,000\\\text { depreciation }\quad(60,000) &255,000&\text { Total stockholders' equity }&\$1,110,000\\\text { Trademarks } & 210,000 &\text { Total liabilities and }\\\text { Total assets } & \$ 1,590,000&\text { stockholders' equity }&\$1,590,000\end{array}$

• A)$360,000
• B)$390,000
• C)$130,000
• D)$180,000

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Definitions:

Major Organic Product

The primary product resulting from an organic reaction, typically favored by conditions or selectivity.

Structure

The arrangement or configuration of atoms within a molecule, determining its physical and chemical properties.

Reaction

A process in which substances interact, resulting in the formation of new products.

Necessary Reagents

Chemical substances required to carry out a specific chemical reaction, often used to facilitate or enable transformations in organic synthesis.