Last year, Knox Corporation reported on its income statement sales of $375,000 and cost of goods sold of $140,000. During the year, the balance in accounts receivable increased $30,000, the balance in accounts payable decreased $25,000, and the balance in inventory increased $10,000. The company uses the direct method to determine the net cash provided by (used in) operating activities on its statement of cash flows.Under the direct method, sales adjusted to a cash basis would be:
A. $295,000
B. $355,000
C. $345,000
D. $405,000
Answer: C
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?Which of the following statements is true?
A. Stockholders benefit when ?the price of the stocks they hold rises and lose when the price of the stocks they hold falls. B. ?Stockholders benefit when ?the price of the stocks they hold falls and lose when the price of the stocks they hold rises. C. ?Stockholders have the right to participate in the decision making of a company but are not entitled to dividend payments. D. ?Stockholders are entitled to dividend payments but do not have the right to participate in the decision making of a company.
Chester Barnard’s work on authority and power distributions in organizations highlighted the ______ that make up the informal organization within his company’s formal organization.
a. managers b. cliques c. concepts d. functions
Marketing objectives must be consistent with and indicate the priorities of the organization
Indicate whether the statement is true or false a. True b. False
A company's bank statement balance shows that there is $4,190 in the checking account at the end of the month. Comparing the company's records with the bank statement reveals several additional items, such as outstanding checks of $1,860, deposits in
transit of $2,080, an NSF check of $209, interest earned of $21.52, a bank service charge of $40, and a check for $120 recorded twice by the company. Calculate the adjusted cash balance for this checking account.