Selected Data from Carson Corporation's Financial Statements for the Year

question 124

Multiple Choice

Selected data from Carson Corporation's financial statements for the year ended December 31, Year 2 are as follows. $\begin{array}{ll}\text { Current ratio } & 1.4 \\\text { Quick ratio } & 0.86 \\\text { Current liabilities } & \$ 450,000 \\\text { Accounts receivable tumover } & 6.0 \\\text { Merchandise inventory turnover } & 4.0 \\\text { Rate of return on assets } & 6.5 \%\end{array}$

$\text { Selected Account Balances at December 31, Year I: }$

$\begin{array}{ll}\text { Accounts receivable } & \$ 355,000 \\\text { Merchandise inventory } & 190,000\end{array}$

$\text { Year } 2 \text { Operations }$

$\begin{array}{ll}\text { Sales } & \$ 1,241,000 \\\text { Cost of goods sold } & 800,000\end{array}$ Assuming that prepaid expenses are immaterial, ending merchandise inventory at December 31, Year 2 is

• A)$180,000
• B)$210,000
• C)$220,000
• D)$240,000
• E)$260,000

Identify and classify disorders within behavioral subsystems.

Appreciate the integrative approach Johnson took in developing her model.

Recognize the criteria for behavioral system balance and stability.

Understand Johnson's conceptualization of a nursing client.

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Definitions:

Profit

The financial gain realized when the revenue generated from a business activity exceeds the expenses, costs, and taxes involved in sustaining the activity.

Rate of Markdown

The percentage decrease from the original price to the sale price.

Operating Expenses

Costs associated with the day-to-day operations of a business or organization.

Wholesale Price

The cost of goods sold in large quantities, usually to retailers rather than directly to consumers.