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Cornerstones of Financial Accounti...
Preparing a Statement of Cash Flows-Direct Method
Financial statements for Rowe Publishing Company are presented below.
Required:
Prepare a statement of cash flows for 2019, using the direct method to determine net cash flow from operating activities.
Introduction:
The immediate technique for introducing the announcement of money streams displays the particular money streams related with things that influence income. Things that normally do as such include:
Money gathered from clients
Intrigue and profits received
Money paid to workers
Money paid to providers
Intrigue paid
Salary charges paid
To compute:
Prepare the cash flow from operating activities section of the statement of cash flow using the direct method.
Cash flow of operating activity by direct method
| Particular | Amount ($) |
| Cash flow from operating activity Cash collected from debtor Cash paid: Cash paid to supplier Cash paid for operating expense Cash paid for interest Cash paid for income tax Cash provided operating activity |
1,042,000 586,000 347,000 16,000 29,000 64,000 |
Cash collected from customer = sale - Increase in accounts receivable
=1,051,000 − 9,000 = 1,042,000...
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