Use the direct method to determine cash flows from operating activities The following accounts and corresponding balances
Question:
Use the direct method to determine cash flows from operating activities The following accounts and corresponding balances were drawn from Hughes Company's 2012 and 2011 year-end balance sheets:
The 2012 income statement is shown below:
Required
a. Use the direct method to compute the amount of cash inflows from operating activities.
b. Use the direct method to compute the amount of cash outflows from operating activities.
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Related Book For
Fundamental Managerial Accounting Concepts
ISBN: 978-0078110894
6th Edition
Authors: Edmonds, Tsay, olds
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