2014CFA1级考生必看-【每日一练】-财务分析--20140316

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收藏 2014-03-21

Firebird Company reported the following financial information at the end of 2007:
            in millions
Merchandise inventory $240
Minority interest          70
Cash and equivalents 275
Accounts receivable 1,150
Accounts payable       225
Property & equipment 2,160
Accrued expenses      830
Current portion of
long-term debt            120
Long-term debt          1,570
Retained earnings       4,230
Calculate Firebird's current assets and working capital.

Current assets Working capital

A) $1,665 million $420 million

B) $1,735 million $490 million

C) $1,665 million $490 million

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答案 C
Current assets are equal to $1,665 ($275 cash and equivalents + $1,150 accounts receivable + $240 inventory). Working capital (current assets minus current liabilities) is equal to $490 ($1,665 current assets - $225 accounts payable - $830 accrued expenses - $120 current portion of long-term debt).