单选题
Peterson Painting Company is a commercial painting contractor. At the
beginning of 20×7, Peterson' s net working capital was $ 350000. The following
transactions occurred during 20×7 :
|
Performed services on credit |
$150000 |
|
Purchased office equipment for cash |
10000 |
|
Recognized salaries expense |
54000 |
|
Purchased paint supplies on on credit |
25000 |
|
Consumed paint supplies |
20000 |
|
Paid salaries |
50000 |
|
Collected accounts receivable |
157000 |
|
Recognized straight-line depreciation expenses |
2000 |
|
Paid accounts payable |
15000 |
Calculate
Peterson' s working capital at the end of 20×7.
Working capital Change in cash
①A.
$ 416000 $ 80000
②B. $ 414000 $ 82000
③C. $ 416000 $ 82000
【正确答案】
C
【答案解析】Working capital at the end of 20×7 is $416000 ( $ 350000 beginning working capital + $ 150000 increase in accounts receivable from services $ 10000 office equipment purchase $ 54000 salaries expense accrual $ 20000 consumed supplies). The change in cash was $ 82000($157000 collections $10000 from equipment purchase $ 50000 salaries paid $ 15000 for payables).