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

question 19

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,sales adjusted to a cash basis would be:

• A)$300,000
• B)$302,000
• C)$298,000
• D)$305,000

Understand the versatility of a college degree in career selection.

Comprehend the significance of declaring a major in college.

Identify effective resume components for recent graduates.

Recognize the necessity and timing of sending a thank-you letter post-interview.

---

Definitions:

Normal Good

A type of good for which demand increases as the income of the consumer increases.

Popcorn

A type of corn kernel which expands and puffs up when heated, commonly seasoned and served as a snack.

DVDs

Digital Versatile Discs, a type of optical storage media used for storing data, including movies and software.

Luxury Good

A good for which demand increases more than proportionally as income rises, often perceived as status symbols.