ANSWERS TO QUESTIONS

The remaining $11,000,000 should be reported as unearned revenue, a current liability in the 12/31/07 balance sheet (22/40 X $20,000,000). 14. Working capital is the excess of total current assets over total current liabilities. This excess is sometimes called net working capital. ... 2018 400,000 Less: Unamortized discount on bonds payable ... ................
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