Moffett Company reports the following income statement for the year ended October 31, 2017:
The company also reports the following information from the balance sheet:
Required:
a. Prepare, in good form, the operating section of the statement of cash flow, using the direct method for Moffett Company for October 31, 2017.
b. Prepare, in good form, the operating section of the statement of cash flow, using the indirect method for Moffett Company for October 31, 2017.

Question

Moffett Company reports the following income statement for the year ended October 31, 2017:
  The company also reports the following information from the balance sheet:
  Required: 
a. Prepare, in good form, the operating section of the statement of cash flow, using the direct method for Moffett Company for October 31, 2017.
b. Prepare, in good form, the operating section of the statement of cash flow, using the indirect method for Moffett Company for October 31, 2017.

Quizplus · Accepted Answer

The Answer of Moffett Company reports the following income statement for the year ended October 31, 2017:
  The company also reports the following information from the balance sheet:
  Required: 
a. Prepare, in good form, the operating section of the statement of cash flow, using the direct method for Moffett Company for October 31, 2017.
b. Prepare, in good form, the operating section of the statement of cash flow, using the indirect method for Moffett Company for October 31, 2017.

Moffett Company Reports the Following Income Statement for the Year