Last year Simpson Company reported a cost of goods sold of $105,000. Inventories decreased by $10,000 during the year, and accounts payable increased by $25,000. The company uses the direct method to determine the net cash flows from operating activities on the statement of cash flows. The cost of goods sold adjusted to a cash basis would be:
A) $140,000.
B) $95,000.
C) $70,000.
D) $80,000.
C
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Sweetson Enterprises' comparative balance sheets included accounts receivable of $220,300 at December 31, 2016, and $200,900 at December 31, 2017 . Sales reported on Sweetson's 2017 income statement amounted to $2,350,000 . What is the amount of cash collections that Sweetson will report in the Operating Activities category of its 2017 statement of cash flows assuming that the direct method is
used? a. $2,369,400 b. $2,350,000 c. $2,771,200 d. $2,330,600
Studying authentic leadership is timely and worthwhile when ______.
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Which of the following is a misconception of a common law marriage?
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A gift "causa mortis" is ineffective if the donor recovers from the existing illness or peril
Indicate whether the statement is true or false