What question is direct format of statement of cash flows, Ask an Expert

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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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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M920619

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