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Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881

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BuyFindarrow_forward

Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881
Textbook Problem
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Determining Net Cash Flow from Operating

Activities-Direct Method

Presented below are selected balance sheet information and the income statement for Burch Company.

Chapter 11, Problem 33BE, Determining Net Cash Flow from Operating Activities-Direct Method Presented below are selected

Required:

Compute the net cash flows from operating activities using the direct method.

To determine

Introduction:

A cash flow statement is a financial statement that gives aggregate data regarding all cash inflows a company gets from its continuous operations and external venture sources, as well as all cash outflows that pay for business activities and speculations amid a given period.

To choose:

Compute the net cash flows from operating activities using the direct method.

Explanation
Particular Amounts ($)
Cash received from debtor
Cash paid to creditor
Other expense paid
Income tax paid
Cash received form operation
247500
(152000)
(35000)
(13500)
47000

Accounts receivable account

Particular Amount ($) Particular Amount ($)
Balance b/d
Credit sale a/c
8000
250000
258000
Cash received (Bal. fig)
Balance c/d
247500
10500
258000

Inventory Accounts a/c

Particular Amount ($) Particular Amount ($)
Balance b/d
Credit purchase (Bal...

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