ACCT 001 Financial Accounting Summer 2018 CR Homework Chapte

ACCT 001 Financial Accounting- Summer 2018- CR Homework: Chapter 3 - Ho Score: 0 of 3 pts E3-75 (similar to) Parsonage Corporation reported the following current accounts at De EEB (Click the ioon to view the accounts) During January 2017, Parsonage completed these selected transaction (Cick the icon to view the completed transactions.) Requirement 1. Compute Parsonage\'s net working capital and current ratio at Dece company\'s net working capital and current ratio. Begin with the December 31, 2016 net working capital. First select the form

Solution

Calculate amount borrowed :

So answer is d) $5000

Beginning cash	3000
Cash receipt	108000
Total cash available	111000
Less: cash payment	-107000
Preliminary cash balance	4000
Desired ending balance	-9000
Amount borrowed	5000