Hayward Corporation had net sales of $610,000 and cost of goods sold of $360,000 for the just completed year. Shown below are the beginning and ending balances for the year of various accounts: The company prepares its statement of cash flows using the direct method. On its statement of cash flows, what amount should Howard show for its net sales adjusted to a cash basis (i.e., cash received from sales)?
A)$616,000
B)$623,000
C)$625,000
D)$595,000

Question

Hayward Corporation had net sales of $610,000 and cost of goods sold of $360,000 for the just completed year. Shown below are the beginning and ending balances for the year of various accounts:  The company prepares its statement of cash flows using the direct method. On its statement of cash flows, what amount should Howard show for its net sales adjusted to a cash basis (i.e., cash received from sales)?
A)$616,000 
B)$623,000 
C)$625,000 
D)$595,000

Quizplus · Accepted Answer

The Answer of Hayward Corporation had net sales of $610,000 and cost of goods sold of $360,000 for the just completed year. Shown below are the beginning and ending balances for the year of various accounts:  The company prepares its statement of cash flows using the direct method. On its statement of cash flows, what amount should Howard show for its net sales adjusted to a cash basis (i.e., cash received from sales)?
A)$616,000 
B)$623,000 
C)$625,000 
D)$595,000

Hayward Corporation Had Net Sales of $610,000 and Cost of Goods