Elston Company Compiled the Following Financial Information as of December

question 141

Multiple Choice

Elston Company compiled the following financial information as of December 31, 2017: $$\begin{array} { l r } \text { Service revenue } & \$ 840,000 \\\text { Common stock } & 180,000 \\\text { Equipment } & 240,000 \\\text { Operating expenses } & 750,000 \\\text { Cash } & 210,000 \\\text { Dividends } & 60,000 \\\text { Supplies } & 30,000 \\\text { Accounts payable } & 120,000 \\\text { Accounts receivable } & 90,000 \\\text { Retained earnings, } 1 / 1 / 17 & 450,000\end{array}$$ Elston's retained earnings on December 31, 2017 are

• A)$450,000.
• B)$540,000.
• C)$480,000.
• D)$ 30,000.

Comprehend the legal handling of deposits and liquidated damages in the context of contract law.

Understand novation and the requirements for its validity, including the substitution of parties in a contract.

Identify circumstances under which a contract is considered void or voidable.

Recognize the factors influencing a court's decision to apportion losses in the case of frustrated contracts.

---

Definitions:

Patient Autonomy

The right of patients to make decisions about their medical care without their health care provider trying to influence the decision.

Community-Based Health Care

Health care services provided within a community setting, emphasizing accessibility and patient involvement.

Health Promotion

Activities such as routine exercise and good nutrition that help patients maintain or enhance their present level of health and reduce their risk of developing certain diseases.

Ill Individuals

Persons suffering from disease, ailment, or other health conditions that affect their physical or mental well-being.