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1. What problem is direct format of statement of cash flows designed to reply?

2. What problem is indirect format of the statement of cash flows designed to answer? Describe.

3. Following information is available for Sentry Company for first month of year.

Revenues

 $        17,000

Expenses

             8,000

Increase in accounts receivable

                 800

Decrease in inventory

             1,200

Decrease in supplies

                 400

Increase in accounts payable

             1,050

Decrease in wages payable

                 900

Depreciation expense

             1,100

Patent expense

                 250

Determine the cash flow from operating activities for the month.

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  • Category:- Accounting Basics
  • Reference No.:- M920619

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