ACCT 001 Financial Accounting- Summer 2018- CR Homework: Chapter 3 - Ho Score: 0

Question

ACCT 001 Financial Accounting- Summer 2018- CR Homework: Chapter 3 - Ho Score: 0 of 3 pts E3-75 (similar to) Parsonage Corporation reported the following current accounts at De EEB (Click the ioon to view the accounts) During January 2017, Parsonage completed these selected transaction (Cick the icon to view the completed transactions.) Requirement 1. Compute Parsonage's net working capital and current ratio at Dece company's net working capital and current ratio. Begin with the December 31, 2016 net working capital. First select the form

Explanation / Answer

Calculate amount borrowed :

So answer is d) $5000

Beginning cash 3000 Cash receipt 108000 Total cash available 111000 Less: cash payment -107000 Preliminary cash balance 4000 Desired ending balance -9000 Amount borrowed 5000

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