(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

Question

(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

Quizplus · Accepted Answer

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