Johnson, Inc

question 96

Multiple Choice

Johnson, Inc.owns control over Kaspar, Inc.Johnson reports sales of $400,000 during 2018 while Kaspar reports $250,000.Kaspar transferred inventory during 2018 to Johnson at a price of $50,000.On December 31, 2018, 30% of the transferred goods are still held in Johnson's inventory.Consolidated accounts receivable on January 1, 2018 was $120,000, and on December 31, 2018 is $130,000.Johnson uses the direct approach in preparing the statement of cash flows.How much is cash collected from customers in the consolidated statement of cash flows?

• A) $590,000.
• B) $610,000.
• C) $625,000.
• D) $635,000.
• E) $650,000.

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Definitions:

Public Speaker

An individual who speaks to an audience with the goal of informing, persuading, or entertaining them.

Written Communication

The process of conveying messages or information through written symbols, including letters and emails, rather than verbal communication.

Win-Win Conflict

In win-win conflict the conflict is resolved to everyone’s benefit.

Interpersonal Styles

The varying approaches or techniques people use to communicate and interact with others.