Head Heading 2L NormalNo SpacingHeading I1. Financial Statements 12) The Decembe

Question

Head Heading 2L NormalNo SpacingHeading I1. Financial Statements 12) The December 31, 2001, balance sheet of Venus's Tennis Shop, Inc, showed cuet assets of $1,200 and current liabilities of $720. The December 31, 2002, belance sheet showed current assets of $1,440 and current liabilities of $525. What was the 2002 change in net working capital, or NWC? 13) Given the following info the Soprano Pizza Co, calculate the depreciation expense: sale $21,000 costs $10,000; addition to retained earnings S800, interest expense-si,200, tax rate-35% dividends paid $4,000 14) From the following balance sheet accounts a) Construct a balance sheet for 2013 and 2014 b) List all the working capital accounts c) Find the net working capital for the years ending 2013 and 2014 d) Calculate the change in net working capital for the year 2014 Balance 2/31/2013 1090 5 960 15) From the following income statement accounss, produce the income statement for the year MacBook Air

Explanation / Answer

Answer to Question 12

Change in NWC = Ending NWC – Beginning NWC
Net Working Capital (NWC) = Current Assets – Current Liabilities
Beginning NWC = $1,200 - $720
Beginning NWC = $480

Ending NWC = $1,440 - $525
Ending NWC = $915

Change in NWC = $915 - $480
Change in NWC = $435

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