Kuma,Inc.had cost of goods sold of $106,000 for the just completed year.Shown below are the beginning and ending balances of various Kuma accounts:
Kuma prepares its statement of cash flows using the direct method.On its statement of cash flows,what amount should Kuma show for its cost of goods sold adjusted to a cash basis (i.e.,cash paid to suppliers)?
A) $100,000
B) $96,000
C) $102,000
D) $116,000

Question

Kuma,Inc.had cost of goods sold of $106,000 for the just completed year.Shown below are the beginning and ending balances of various Kuma accounts:
 Kuma prepares its statement of cash flows using the direct method.On its statement of cash flows,what amount should Kuma show for its cost of goods sold adjusted to a cash basis (i.e.,cash paid to suppliers)?
A) $100,000 
B) $96,000 
C) $102,000 
D) $116,000

Quizplus · Accepted Answer

11ea7761_15a7_4cea_81a5_a5521d2cf88f_TB2580_00

Kuma,IncHad Cost of Goods Sold of $106,000 for the Just