Presented Below Is a Partial Trial Balance for the Messenger

question 12

Essay

Presented below is a partial trial balance for the Messenger Corporation at December 31, 2013. Additional information:
1. The note receivable, along with any accrued interest, is due on November 1, 2014.
2. The note payable is due in 2018. Interest is payable annually.
3. The marketable securities consist of equity securities of other corporations. Management does not intend to sell any of the securities in the next year.
4. Unearned revenue will be earned equally over the next 18 months.
Required:
Determine the company's working capital (current assets minus current liabilities) at December 31, 2013.

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Definitions:

Rods

Photoreceptor cells in the retina of the eye that are extremely sensitive to light and enable vision in low-light conditions.

Ganglion Cells

Neurons located in the retina that receive visual information from photoreceptors via intermediate bipolar cells and transmit it to the brain.

Thalamus

A brain structure that acts as a relay station for sensory and motor signals to the cerebral cortex.

Neurons

Specialized cells transmitting nerve impulses; the basic building blocks of the nervous system.