Based on the given information, what will be the working capital of the company? Items Amount ($)
Inventory 50,000
Notes Payable 20,000
Cash at Bank 5,000
tax payable 3,000
prepaid rent 5,000

$37,000

Explanation:

Working capital indicates the difference between a company's current assets and its current liabilities.

Current assets include such as cash at hand, bank balances, cash equivalents, and inventories. Current liabilities are accounts payable, bills, and short term debts.

in this case,

Current assets include

Inventory    $50,000

Cash at Bank    $ 5,000

prepaid rent      $5,000

Total current assets$60,000

current liabilities

Notes Payable   $20,000

tax payable         $3,000

Total current liabilities     $23,000

Working capital

= $60,000 - $23,000

= $37,000

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