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Managerial Accounting: The Corners...

7th Edition
Maryanne M. Mowen + 2 others
ISBN: 9781337115773

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BuyFindarrow_forward

Managerial Accounting: The Corners...

7th Edition
Maryanne M. Mowen + 2 others
ISBN: 9781337115773
Textbook Problem
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Explain how the statement of cash flows can be prepared using the worksheet approach.

To determine

Discuss the manner in which statement of cash flows can be prepared using the worksheet approach.

Explanation

Cash Flow Statement:

Cash flow statement is a financial statement prepared to provide information about the sources and uses of cash in a firm. In this statement, the activities increasing cash are referred as cash inflows and the activities that decrease cash are referred as cash outflows. Financing and investing activities are two category of a cash flow statement.

The worksheets prove to be an efficient way in preparation of the statement of cash flows. The manner in which statement of cash flows can be prepared using the worksheet approach is explained as below:

  • The transactions are analyzed in the worksheet approach to prepare the statement of cash flows. The analysis of transactions is done using the beginning and ending balance on the balance sheet...

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