Crossland Corporation Reported Sales on Its Income Statement of $435,000

question 14

Multiple Choice

Crossland Corporation reported sales on its income statement of $435,000. On the statement of cash flows, which used the direct method, sales adjusted to a cash basis were $455,000. Crossland Corporation reported the following account balances on its balance sheet for the year: Based on this information, the beginning balance in accounts receivable was:

• A)$50,000
• B)$40,000
• C)$30,000
• D)$20,000

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Definitions:

Mental Disorders

A broad range of conditions affecting mood, thinking, and behavior, often resulting in distress or impairment in social, occupational, or other important functions.

Psychiatrist

A medical doctor who specializes in diagnosing, treating, and preventing mental, emotional, and behavioral disorders, often through medication.

Psychologist

A professional specializing in diagnosing and treating mental, emotional, and behavioral disorders.

Prescribe Medications

The act of a healthcare provider authorizing the use of pharmaceutical drugs for a patient.