The Following Items Are Components of a Firm's Balance Sheet

question 101

Multiple Choice

The following items are components of a firm's balance sheet. How much is the firm's working capital (net working capital) ? $\begin{array}{lr}\text {Cash }&\$ 2,000 \\\text {Long-term debt }&10,000\\\text {Inventory }&12,000\\\text {Owners' equity }&62,000\\\text {Accounts payable }&8,000\\\text {Accruals }&1,500\\\text {Accumulated depreciation }&6,000\\\text {Accounts receivable }&14,000\\\end{array}$

• A) $14,500
• B) $ 2,500
• C) $18,500
• D) $12,500

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