LFS00AC1 Questions On Foundation Studies: Accounting 1 - Assessment Test 1

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Question 3 (8 marks)

The following totals have been extracted from the Balance Sheet for Winkler Trading at 30 June 2020

Required

  1. Calculate the working capital of the business. (You must show the formula and all workings to gain full marks)
  2. Calculate the working capital ratio. (You must show the formula and all workings to gain full marks)
  3. Do you think that this business has a liquidity problem? Explain with reference to your answer in part b.

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