The Balance Sheet of YYY Ltd

question 18

Multiple Choice

The Balance Sheet of YYY Ltd. is as follows: ASSETS
Current Assets
Cash $30 000
Accounts receivable $20 000
Raw materials inventory $50 000
Finished goods inventory $600 000
Total current Assets $700 000
Long-Term Assets
Equipment $2 000 000
Buildings $1 100 000
Land $400 000
Total Long-Term Assets $3 500 000
TOTAL ASSETS $4 200 000
LIABILITIES & OWNER'S EQUITY
Current Liabilities
Accounts payable $10 000
Current loans $60 000
Total current liabilities $70 000
Long-Term Liabilities
Long-term loans $900 000
TOTAL LIABILITIES $970 000
Owners' equity
Common stock $2 130 000
Retained Earnings $1 100 000
TOTAL OWNERS' EQUITY $3 230 000
TOTAL LIABILITIES
AND OWNERS' EQUITY $4 200 000
If the sales of this company are $5 400 000, what is the company's inventory-turnover ratio?

• A)8.4
• B)9.0
• C)8.3
• D)12.0
• E)18.00

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Definitions:

Biological Factors

Aspects of biology that affect behaviors, health, and well-being, including genetics, brain chemistry, and physiological conditions.

Intimacy

Close familiarity or friendship; deep emotional or physical connection between people.

Young Adult

A young adult is an individual in the stage of life transition between adolescence and adulthood, often categorized by ages 18 to 25.

Over-identify

The tendency to excessively relate or connect with characters, ideas, or objects beyond a healthy level, leading to a blurred sense of self.