Presented Below Is a Partial Trial Balance for the Messenger

question 70

Essay

Presented below is a partial trial balance for the Messenger Corporation at December 31, 2018.

Additional information:
1. The note receivable, along with any accrued interest, is due on November 1, 2019.
2. The note payable is due in 2023. Interest is payable annually.
3. The marketable securities consist of investments in equity securities of other corporations. Management does not intend to sell any of the securities in the next year.
4. Deferred revenue will be recognized equally over the next 18 months.

Required:
Determine the company's working capital at December 31, 2018.

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Definitions:

Emotional Causes

The underlying emotional factors or triggers that lead to specific behaviors or psychological states.

Prejudice

Preconceived opinion or bias against an individual or group without sufficient knowledge, fair judgment, or factual basis.

Competition

The rivalry among sellers trying to achieve such goals as increasing profits, market share, and sales volume by varying the elements of the marketing mix: price, product, distribution, and promotion.

Frustration

The feeling people get when goals they are trying to attain are blocked.