Ask Question
13 April, 06:34

The December 31, 2015, balance sheet of Maria's Tennis Shop, Inc., showed current assets of $1,145 and current liabilities of $935. The December 31, 2016, balance sheet showed current assets of $1,360 and current liabilities of $1,035. What was the company's 2016 change in net working capital, or NWC? (Do not round intermediate calculations and round your answer to the nearest whole number, e. g., 32.)

+2
Answers (1)
  1. 13 April, 06:56
    0
    Answer: Change in net working capital = $115

    Explanation:

    Change in current assets = current assets in 2016 - current assets in 2015

    = $1,360 - $1,145

    = $215

    Change in current Liabilities = current Liabilities in 2016 - current Liabilities in 2015

    = $1,035 - $935

    = $100

    Therefore,

    Change in net working capital = Change in current assets - Change in current Liabilities

    = $215 - $100

    = $115
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “The December 31, 2015, balance sheet of Maria's Tennis Shop, Inc., showed current assets of $1,145 and current liabilities of $935. The ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers