ZuoTi.Pro
Question

Cridberg Corporation's selling and administrative expenses for last year totaled $282,000. During the year the company's...

Cridberg Corporation's selling and administrative expenses for last year totaled $282,000. During the year the company's prepaid expense account balance increased by $29,000 and accrued liabilities decreased by $23,000. Depreciation for the year was $47,000. 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:

Multiple Choice

  • $277,000

  • $381,000

  • $183,000

  • $287,000

business   accounting   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

selling and administrative expenses adjusted to a cash basis under the direct method on the statement of cash flows would be

= 282,000 + prepaid expenses increase 29000 + accrued liabilities decrease 23,000 - Depreciation 47,000

= 287,000
0 0
Add a comment
Know the answer?
Add Answer to:
Cridberg Corporation's selling and administrative expenses for last year totaled $282,000. During the year the company's...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • 2. Clayborn Corporation's net cash provided by operating activities was $119,900; its net income was $105,000;...

    2. Clayborn Corporation's net cash provided by operating activities was $119,900; its net income was $105,000; its income taxes were $46,000; its capital expenditures were $95,400; and its cash dividends were $29,400. Required: Determine the company's free cash flow. (Negative amounts should be indicated by a minus sign.) Free cash flow Cridberg Corporation's selling and administrative expenses for last year totaled $296,000. During the year the company's prepaid expense account balance increased by $36,000 and accrued liabilities decreased by $30,000....

  • A company's assets totaled $24,350 and liabilities totaled $8,510 at the beginning of the year. During...

    A company's assets totaled $24,350 and liabilities totaled $8,510 at the beginning of the year. During the year, adets decreased by $3,510 and liabilities increased by $2,810. What is the amount of stockholders' equity at the end of the year? Multiple Choice o $14.520 $15.140 o $9,520 $15.840

  • Norbury Corporation's net income last year was $29,000. The company did not sell or retire any...

    Norbury Corporation's net income last year was $29,000. The company did not sell or retire any property, plant, and equipment last year. Changes in selected balance sheet accounts for the year appear below: Increases (Decreases) Asset and Contra-Asset Accounts: Accounts receivable $ 19,000 Inventory $ (4,700 ) Prepaid expenses $ 14,500 Accumulated depreciation $ 35,000 Liability Accounts: Accounts payable $ 18,500 Accrued liabilities $ (9,200 ) Income taxes payable $ 3,800 Based solely on this information, the net cash provided...

  • Assets totaled $26,150 and liabilities totaled $8,690 at the beginning of the year. During the year,...

    Assets totaled $26,150 and liabilities totaled $8,690 at the beginning of the year. During the year, assets decreased by $3,690 and liabilities increased by $2,990. What is the amount of the change in stockholders' equity during the year? Multiple Choice Ο $6,130 increase Ο $700 decrease Ο $6,680 decrease Ο $930 increase

  • The change in each of Kendall Corporation's balance sheet accounts last year follows: Increase Decrease Cash...

    The change in each of Kendall Corporation's balance sheet accounts last year follows: Increase Decrease Cash and cash equivalents $ 3,000 Accounts receivable $ 2,000 Inventory $ 3,000 Prepaid Expenses $ 4,000 Long-term Investments $ 15,000 Property, Plant and Equipment $ 10,000 Accumulated Depreciation $ 8,000 Accounts payable $ 9,000 Accrued Liabilities $ 6,000 Bonds Payable $ 13,000 Common Stock $ 5,000 Retained Earnings $ 4,000 Kendall Corporation's income statement for the year was: Sales $ 300,000 Cost of goods...

  • At the end of last year, ArtisanCo's assets totaled $877,000 and its liabilities totaled $748,500. During...

    At the end of last year, ArtisanCo's assets totaled $877,000 and its liabilities totaled $748,500. During the current year, the total assets increased by $59,700 and its total liabilities increased by $24,850. At the end of the current year, stockholders' equity was: Multiple Choice $34,850 $188,200 $163,350 $128,500. O

  • Megan Corporation's net income last year was $102,000. Changes in the company's balance sheet accounts for...

    Megan Corporation's net income last year was $102,000. Changes in the company's balance sheet accounts for the year appear below: Increases (Decreases) Asset and Contra-Asset Accounts: Cash and cash equivalents $ (6,200 ) Accounts receivable $ (18,000 ) Inventory $ 5,000 Prepaid expenses $ (9,800 ) Long-term investments $ 84,000 Property, plant and equipment $ 63,000 Accumulated depreciation $ 66,000 Liability and Equity Accounts: Accounts payable $ 0 Accrued liabilities $ 17,440 Income taxes payable $ (12,240 ) Bonds payable...

  • Norbury Corporation's net income last year was $47,000. The company did not sell or retire any...

    Norbury Corporation's net income last year was $47,000. The company did not sell or retire any property, plant, and equipment last year. Changes in selected balance sheet accounts for the year appear below: Increases (Decreases) Asset and Contra-Asset Accounts: Accounts receivable $ 18,000 Inventory $ (4,500 ) Prepaid expenses $ 13,500 Accumulated depreciation $ 33,000 Liability Accounts: Accounts payable $ 17,500 Accrued liabilities $ (9,000 ) Income taxes payable $ 3,600 Based solely on this information, the net cash provided...

  • Norbury Corporation's net income last year was $21,000. The company did not sell or retire any...

    Norbury Corporation's net income last year was $21,000. The company did not sell or retire any property, plant, and equipment last year. Changes in selected balance sheet accounts for the year appear below: Increases (Decreases) Asset and Contra-Asset Accounts: Accounts receivable $ 11,500 Inventory $ (3,200 ) Prepaid expenses $ 7,000 Accumulated depreciation $ 20,000 Liability Accounts: Accounts payable $ 11,000 Accrued liabilities $ (7,700 ) Income taxes payable $ 2,300 Based solely on this information, the net cash provided...

  • Norbury Corporation's net income last year was $21,000. The company did not sell or retire any...

    Norbury Corporation's net income last year was $21,000. The company did not sell or retire any property, plant, and equipment last year. Changes in selected balance sheet accounts for the year appear below: Increases (Decreases) Asset and Contra-Asset Accounts: Accounts receivable $ 11,500 Inventory $ (3,200 ) Prepaid expenses $ 7,000 Accumulated depreciation $ 20,000 Liability Accounts: Accounts payable $ 11,000 Accrued liabilities $ (7,700 ) Income taxes payable $ 2,300 Based solely on this information, the net cash provided...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT