Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 1. patton corporation had the following items on i

1. Patton Corporation had the following items on its financial statements for two recent years:...

70.2K

Verified Solution

Question

Accounting

1. Patton Corporation had the following items on its financial statements for two recent years: Year 2 Year 1 Sales $2,500,000 $2,000,000 Cost of goods sold 1,975,000 1,600,000 Cash 500,000 475,000 Temporary investments 150,000 150,000 Accounts receivable (net) 200,000 175,000 Inventory 325,000 300,000 Accounts payable 450,000 400,000

Based on these data, calculate Patton Corporations working capital for Year 2.

A) $725,000

b)$1,625,000

c)$2,050,000

d)None of these choices are correct.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Please very important to explain all the transactions answers Chapter 12 Monte Carlo Simulation and Risk Analysis 3. A...

Statistics
Q

Use \"do...while\" loops to write a program that finds all prime numbers less than a specified...

Electrical Engineering
Q

Crude oil is rarely produced alone as it is generally commingled with water that creates a...

Mechanical Engineering
Q

(a) Let be a metric space and E ? X. Show that E is...

Advance Math
Q

The following table lists the components needed to assemble an end item, lead times (in weeks),...

General Management
Q

2 The switch in the LR circuit shown is closed at t 0 a 2...

Physics
Q

Wheel 2 has twice the radius of wheel 1 Each is accelerated from rest with...

Physics
Q

Consider the following scenario The rate of increase in the number of people who have...

Basic Math
Q

Cost Flow Relationships The following information is available for the first...

Accounting
Q

Facebook, Inc. (FB) Stock Historical Prices & Data - Yahoo Finance Facebook, Inc. (FB)...

Accounting
Q

On January 1, 2001, Gooch Companyies of the outstanding commock of...

Accounting
Q

The current yield curve for default-free zero-coupon bonds is as follows: Maturity (years) YTM 1...

Finance