What is the balance sheet, and what information does it provide?
How is the order of the items shown on the balance sheet
determined?
A company has $2 million of cash and equivalents, $2 million of
inventory, $3 million of accounts receivable, $3 million of accounts
payable, $1 million of accruals, and $2 million of notes payable.
What is its net working capital?
Why might Allied’s December 31 balance sheet differ from its June
30 statement?
