(Appendix 14A) Hayward Corporation Had Net Sales of $610,000 and Cost

question 17

Multiple Choice

(Appendix 14A) Hayward Corporation had net sales of $610,000 and cost of goods sold of $360,000 for the just completed year. Shown below are the beginning and ending balances for the year of various accounts:
The company prepares its statement of cash flows using the direct method.
-On its statement of cash flows,what amount should Howard show for its net sales adjusted to a cash basis (i.e.,cash received from sales) ?

• A) $616,000
• B) $623,000
• C) $625,000
• D) $595,000

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Definitions:

Habituation

The process by which an individual becomes accustomed to a stimulus after repeated exposure, leading to a decrease in response.

Visual Attention

The mental process of focusing attention on a specific element of the surroundings while excluding other aspects.

Responsiveness

The quality or state of reacting quickly and positively.

Teratogens

Agents, such as chemicals and viruses, that can reach the embryo or fetus during prenatal development and cause harm.