Wister Corporation had net sales of $462,000 for the just completed year.Shown below are the beginning and ending balances of various Wister accounts: Wister prepares its statement of cash flows using the direct method.On its statement of cash flows,what amount should Wister show for its net sales adjusted to a cash basis (i.e. ,cash received from sales)?
A)$488,000
B)$436,000
C)$462,000
D)$445,000

Question

Wister Corporation had net sales of $462,000 for the just completed year.Shown below are the beginning and ending balances of various Wister accounts:  Wister prepares its statement of cash flows using the direct method.On its statement of cash flows,what amount should Wister show for its net sales adjusted to a cash basis (i.e. ,cash received from sales)?
A)$488,000 
B)$436,000 
C)$462,000 
D)$445,000

Quizplus · Accepted Answer

The Answer is B

Wister Corporation Had Net Sales of $462,000 for the Just