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

question 14

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 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

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Definitions:

Naval Strategy

Involves the planning and execution of maritime operations to achieve military or political objectives, including the use of naval forces to project power, secure shipping lanes, and combat threats.

Germany

A country in Central Europe, renowned for its influential historical roles, technological advancements, and cultural contributions.

Austria-Hungary

Austria-Hungary, also known as the Austro-Hungarian Empire, was a dual monarchy in Central Europe from 1867 to 1918, composed of the Austrian Empire and the Kingdom of Hungary.