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Financial & Managerial Accounting 17th Edition by Jan Williams ,Susan Haka,Mark Bettner,Joseph Carcello
Edition 17ISBN: 978-0078025778Financial & Managerial Accounting 17th Edition by Jan Williams ,Susan Haka,Mark Bettner,Joseph Carcello
Edition 17ISBN: 978-0078025778 Exercise 17
Cash Flows from Operations (Direct)
Mississippi Products Co. had the following positive cash flows during the current year: received cash from customers of $750,000; received bank loans of $35,000; and received cash from the sale of common stock of $145,000. During the same year, cash was paid out to purchase inventory for $345,000, to employees for $230,000, and for the purchase of plant assets of $217,000. Calculate the amount of cash provided by or used for operating activities by the direct method.
Mississippi Products Co. had the following positive cash flows during the current year: received cash from customers of $750,000; received bank loans of $35,000; and received cash from the sale of common stock of $145,000. During the same year, cash was paid out to purchase inventory for $345,000, to employees for $230,000, and for the purchase of plant assets of $217,000. Calculate the amount of cash provided by or used for operating activities by the direct method.
Explanation
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Determination of the amount of cash prov...
Financial & Managerial Accounting 17th Edition by Jan Williams ,Susan Haka,Mark Bettner,Joseph Carcello
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