The Change in Each of Kendall Corporation's Balance Sheet Accounts

question 196

Multiple Choice

The change in each of Kendall Corporation's balance sheet accounts last year follows: Kendall Corporation's income statement for the year was:
There were no sales or retirements of property, plant, and equipment and no dividends paid during the year. The company pays no income taxes and it did not purchase any long-term investments, issue any bonds payable, or repurchase any of its own common stock. The net cash provided by (used in) operating activities on the statement of cash flows is determined using the direct method.Using the direct method, the cost of goods sold adjusted to a cash basis would be:

• A) $180,000
• B) $174,000
• C) $177,000
• D) $186,000

---

Definitions:

Post-traumatic Stress Disorder

A psychiatric disorder that may occur in people who have experienced or witnessed a traumatic event, characterized by flashbacks, nightmares, and severe anxiety.

Nightmares

Disturbing dreams that cause fear or anxiety, often awakening the sleeper.

Prison

A facility in which individuals are forcibly confined and denied a variety of freedoms under the authority of the state as a form of punishment.

Specific Phobic Disorder

A type of anxiety disorder characterized by a strong, irrational fear of and desire to avoid specific objects, activities, or situations that pose little or no actual danger.