Excerpts from Colter Corporation's Most Recent Balance Sheet Appear Below

question 150

Multiple Choice

Excerpts from Colter Corporation's most recent balance sheet appear below:
Sales on account in Year 2 amounted to $1,210 and the cost of goods sold was $720.
-The working capital at the end of Year 2 is:

• A) $850
• B) $770
• C) $400
• D) $80

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Definitions:

Cyclic Esters

Organic compounds characterized by a ring structure containing an ester linkage, also known by the term "lactones."

Lactones

Cyclic esters formed by the intramolecular reaction of a hydroxy acid, commonly found in various natural products and fragrances.

Cyclohexyl Formate

An organic ester derived from cyclohexanol and formic acid, known for its use in fragrance and flavor compositions.

Trifluoroacetic Anhydride

A chemical reagent used in organic synthesis to introduce trifluoroacetyl groups into molecules.