Preparing the direct method statement of cash flows Rouse Toy Company reported the following comparative balance sheet: 11eb8258_957f_1a81_bb02_539fe7af5ebe_SM1625_00 Requirement 1. Compute the following for Rouse Toy Company: a. Collections from customers during 2012. Sales totaled $143,000. b. Payments for inventory during 2012. Cost of goods sold was $80,000

Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver

Edition 3ISBN: 978-0132962339

Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver

Edition 3ISBN: 978-0132962339

Exercise 23

Preparing the direct method statement of cash flows
Rouse Toy Company reported the following comparative balance sheet:

Requirement
1. Compute the following for Rouse Toy Company:
a. Collections from customers during 2012. Sales totaled $143,000.
b. Payments for inventory during 2012. Cost of goods sold was $80,000

Explanation

Verified

2. We know that Cost of goods sold was $...