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

The Answer of 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

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