Your friend is in business and wants your advice on preparing and interpreting the statement of cash flows for 2016.
Information regarding the business is as follows:
Required:
a. Based upon the above information, prepare the statement of cash flows using the direct method.
b. Explain what has happened during the year.

Question

Your friend is in business and wants your advice on preparing and interpreting the statement of cash flows for 2016.
Information regarding the business is as follows: 
 Required: 
a. Based upon the above information, prepare the statement of cash flows using the direct method.
b. Explain what has happened during the year.

Quizplus · Accepted Answer

The Answer of Your friend is in business and wants your advice on preparing and interpreting the statement of cash flows for 2016.
Information regarding the business is as follows: 
 Required: 
a. Based upon the above information, prepare the statement of cash flows using the direct method.
b. Explain what has happened during the year.

Your Friend Is in Business and Wants Your Advice on Preparing