Cridman Company's selling and administrative expenses for last year totaled $180,000.During the year the company's prepaid expense account balance decreased by $5,000 and accrued liabilities increased by $8,000.Depreciation for the year was $12,000.Based on this information,selling and administrative expenses adjusted to a cash basis under the direct method on the statement of cash flows would be:
A)$205,000
B)$181,000
C)$155,000
D)$179,000

Question

Quizplus · Accepted Answer

The Answer of Cridman Company's selling and administrative expenses for last year totaled $180,000.During the year the company's prepaid expense account balance decreased by $5,000 and accrued liabilities increased by $8,000.Depreciation for the year was $12,000.Based on this information,selling and administrative expenses adjusted to a cash basis under the direct method on the statement of cash flows would be:
A)$205,000
B)$181,000
C)$155,000
D)$179,000

Cridman Company's Selling and Administrative Expenses for Last Year Totaled