The Financial Statements for Uptown Service Company Include the Following

question 154

Multiple Choice

The financial statements for Uptown Service Company include the following items: $$\begin{array} { | l | r | r | } \hline & { 2019 } & { 2018 } \\\hline \text { Cash } & \$ 50,500 & \$ 47,000 \\\hline \text { Short-term Investments } & 27,000 & 18,000 \\\hline \text { Net Accounts Receivable } & 61,000 & 51,000 \\\hline \text { Merchandise Inventory } & 161,000 & 46,000 \\\hline \text { Total Assets } & 535,000 & 548,000 \\\hline \text { Accounts Payable } & 127,500 & 129,000 \\\hline \text { Salaries Payable } & 16,000 & 16,000 \\\hline \text { Long-term Note Payable } & 60,000 & 57,000 \\\hline\end{array}$$ Compute working capital for 2019.

• A) $145,000
• B) $96,000
• C) $156,000
• D) $33,000

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Definitions:

Psychoanalytic

A theory of personality and therapeutic method that attributes thoughts and actions to unconscious motives and conflicts, developed by Sigmund Freud.

Humanistic Brands

Brands that promote and reflect values centered on human welfare and the fulfillment of individual potential.

Self-Fulfilling Prophecy

A belief or expectation that an individual holds about a future event that manifests because the individual holds it.

Regression Toward the Mean

The statistical phenomenon that if a variable is extreme on its first measurement, it will tend to be closer to the average on its second measurement, and vice versa.