Reference no: EM133144832
Question - Your review of the ledger of J Company at December 31, 2021 reveals the following:
Amounts due from customers 148,000
Land for future plant site 1,350,000
Amounts due to suppliers 124,000
Income taxes owed BIR 16,000
Citibank - current account 98,000
Advances from customers 150,000
Accrued interest on bonds payable 17,000
Sinking fund for bond retirement 30,000
Allowance for uncollectible accounts 12,000
Provision for warranties 60,000
Inventories including office supplies of P3,500 221,000
Deferred tax liability, expected to reverse in 2022 18,000
Required - Determine the company's working capital at December 31, 2021.
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