Last Year, Nye Company Reported on Its Income Statement Sales

question 42

Multiple Choice

Last year, Nye Company reported on its income statement sales of $475,000 and cost of goods sold of $240,000. During the year, the balance in accounts receivable increased $40,000, the balance in accounts payable decreased $25,000, and the balance in inventory increased $10,000. The company uses the direct method to determine the net cash provided by operating activities on its statement of cash flows.
-Under the direct method,sales adjusted to a cash basis would be:

• A)$435,000
• B)$455,000
• C)$515,000
• D)$375,000

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Definitions:

Physical Carcinogen

A substance, material, or exposure that physically causes cancer, typically through direct physical damage to DNA.

Smokeless Tobacco

Tobacco products that are not burned but used in other forms such as chewing tobacco or snuff, posing health risks such as cancer and dental disease.

Chemical Carcinogen

A substance or exposure that can lead to cancer by altering cellular metabolism or damaging DNA directly in cells.

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Pericarditis is an inflammation of the pericardium, the protective membrane surrounding the heart, often causing chest pain and other symptoms.