Reference no: EM13953325
Which of the following items affect Streamer's the working capital (current assets and current liabilities)?
a) Cash of $38,000 has been placed in a fund for the retirement of long-term debt. The cash and long-term debt have been offset and are not reflected in the financial statements.
b) Long-term assets include $50,000 in Investment in Jones Company bonds.
c) Cash of $14,000 has been set aside to pay taxes due. The cash and taxes payable have been offset and do not appear in the financial statements.
d) Streamer received a collection in the amount of $21,000 from customers on account. The following totals are taken from the Dec. 31,2012, balance sheet of Streamer Company: Current Assets $350,000
Long-term assets $800,000
Current Liabilities $240,000
Long-term Liabilities $270,000
Beginning a. b. c. d. Totals
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