Monroe Corporation reported a decrease in inventories of $30,000 ...

[Sadjam2]

Question 1

Which of the following items is relevant when deciding whether to prepare the statement of cash flows using the direct method versus the indirect method?
◦ Investing and financing activities only
◦ Operating activities only
◦ Investing activities only
◦ Financing activities only

Question 2

Monroe Corporation reported a decrease in inventories of $30,000 and a decrease in accounts payable of $15,000. Cost of goods sold totaled $110,000. Monroe uses the direct method to determine the net cash provided by operating activities on the statement of cash flows. What is the cost of goods sold adjusted to a cash basis?
◦ $95,000
◦ $65,000
◦ $105,000
◦ $155,000

[Marys]

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[Sadjam2]

Thanks for the timely response, appreciate it

[jackie]

Gracias!