120 the following data were taken from the oxon hill inc balance sheet accounts paya 4313920

120 the following data were taken from the oxon hill inc balance sheet accounts paya 4313920

120. The following data were taken from the Oxon Hill, Inc. balance sheet:

Accounts payable

$ 1,150

Inventory

1,250

Retained earnings

40

Accumulated depreciation

300

Cash

15,500

Serial bonds payable ($1,200 matures each year)

10,800

Prepaid insurance

1,200

Allowance for doubtful accounts

720

Capital stock

440

Property, plant, and equipment

1,000

Accounts receivable (gross)

3,110

Accrued salaries

1,310

 

Required:

Compute working capital.

121. The following information has been provided for Zero One Corp.:

Prepaid insurance

$ 1,200

Accrued salaries

2,170

Petty cash

675

Investment in trading securities

5,200

Cash

4,600

Inventory, at sales value (cost = $2,100)

4,500

Unearned rent

1,940

Allowance for bad debts

850

Office supplies

910

Accounts receivable

3,800

?

Required:

a.

Prepare the current asset section of Zero One's balance sheet in the proper sequence according to U.S. GAAP.

b.

Calculate Zero One's working capital.

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