Multiple Choice
Thomas Inc. uses the direct method to prepare its statement of cash flows. Refer to the following information reported for the year 2014: Sales Revenue, $39,000
Interest Revenue, $500
Accounts Receivable, beginning balance, $13,000
Accounts Receivable, ending balance, $26,000
There were no amounts reported for Interest Receivable.
In the operating activities section of the statement of cash flows, what amount will be shown for total cash receipts?
A) $26,000
B) $52,000
C) $26,500
D) $13,000
Correct Answer:
Verified
Correct Answer:
Verified
Q48: Which of the following is the typical
Q56: Free cash flow is the amount of
Q105: Which of the following is a cash
Q106: Which of the following sections of the
Q107: Walker Inc. uses the indirect method to
Q109: Most public companies use the indirect method
Q111: While preparing the statement of cash flows
Q113: Moore Sales purchased some equipment for $50,000
Q114: Wellington Company uses the direct method to
Q115: Which will be included in the financing