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Last year Lawn Corporation reported sales of $230,000 on its income statement. During the year, accounts receivable increased by $24,000, and accounts payable increased by $29,000. The company uses the direct method to determine the net cash provided by (used in) operating activities on the statement of cash flows. The sales revenue adjusted to a cash basis for the year would be:
(a) $201,000.
(b) $225,000.
(c) $206,000.
(d) $235,000.

Answer :

TUTORCONSORTIUM650IN

$206,000. On the cash flow, the sales revenue for the year converted to the a cash basis would be operational activities.

What does sales revenue refer to?

Before any costs are subtracted, sales revenue is the income from goods and services. It is typically calculated over a specific time frame, such a fiscal year or quarter.

What do sales and revenue mean?

Before any costs are deducted from the computation, revenue is the total money a business derives from its core operations. Sales are the money a business makes from offering products or services to clients.

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