Last year Cucumber Company reported a cost of goods sold of $30,000. Inventories decreased by $7,000 during the year, and accounts payable decreased by $13,000. The company uses the direct method to determine the net cash provided by operating activities on the statement of cash flows. The cost of goods sold adjusted to a cash basis would be: * O $23,000 O $36,000 O $24,000 O $43,000

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter21: The Statement Of Cash Flows
Section: Chapter Questions
Problem 5RE: In the current year, Harrisburg Corporation had net income of 35,000, a 9,000 decrease in accounts...
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Last year Cucumber Company reported a cost of goods sold of $30,000.
Inventories decreased by $7,000 during the year, and accounts payable
decreased by $13,000. The company uses the direct method to determine
the net cash provided by operating activities on the statement of cash
flows. The cost of goods sold adjusted to a cash basis would be: *
$23,000
$36,000
$24,000
O $43,000
Transcribed Image Text:Last year Cucumber Company reported a cost of goods sold of $30,000. Inventories decreased by $7,000 during the year, and accounts payable decreased by $13,000. The company uses the direct method to determine the net cash provided by operating activities on the statement of cash flows. The cost of goods sold adjusted to a cash basis would be: * $23,000 $36,000 $24,000 O $43,000
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