Question: Describe the two formats for reporting operating activities on the
Describe the two formats for reporting operating activities on the statement of cash flows.
Answer to relevant QuestionsExplain why depreciation expense, depletion expense, and amortization expense are added to net income in the operating activities section of the statement of cash flows when using the indirect method.Describe the five steps used to prepare the statement of cash flows by the indirect method.Kyler Media Corporation had the following income statement and balance sheet for 2015:KYLER MEDIA CORPORATIONIncome StatementYear Ended December 31, 2015Sales Revenue ..................... $ 80,000Depreciation ...The cash flow statement categorizes like transactions for optimal reporting. Identify each of the following transactions as one of the following: • Operating activity (O) • Investing activity (I) • Financing activity ...The accounting records of Fuzzy Dice Auto Parts reveal the following:Compute cash flows from operating activities using the direct method for the year ended December 31, 2014.
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