(Appendix 14A) the Changes in Northrup Corporation's Balance Sheet Account

question 1

Multiple Choice

(Appendix 14A) The changes in Northrup Corporation's balance sheet account balances for last year appear below:
The company's income statement for the year appears below:
The company declared and paid $28,000 in cash dividends during the year. It did not dispose of any property, plant, and equipment during the year. The company uses the direct method to determine the net cash provided by (used in) operating activities.
-On the statement of cash flows,the income tax expense adjusted to a cash basis would be:

• A) $47,000
• B) $39,000
• C) $31,000
• D) $49,000

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Definitions:

Gasoline Expenditures

The total amount of money spent by consumers on gasoline, encompassing both retail purchases for vehicles and other uses.

Public Transportation

A system of vehicles such as buses, trains, and subways, provided by the government or private companies, for the purpose of transporting large numbers of people.

Cross-price Elasticity

Measures the responsiveness of the demand for one good to a change in the price of another good.

Grape Harvest

The process of collecting grapes from the vineyards, usually seasonal and significant for wine production.