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Cornerstones of Managerial Accounting 6th Edition by Maryanne Mowen,Don Hansen ,Dan Heitger
Edition 6ISBN: 978-1305103962Cornerstones of Managerial Accounting 6th Edition by Maryanne Mowen,Don Hansen ,Dan Heitger
Edition 6ISBN: 978-1305103962 Exercise 11
Operating Cash Flows
Oliver Company provided the following information for the years 2015 and 2016:
Refer to the information for Oliver Company on the previous page.
Required:
1. Calculate the change in cash flows that serves as the control figure for the statement of cash flows.
2. Prepare a schedule that provides operating cash flows for the year 2016 using the indirect method.
3. Assume that you have all the information provided for Requirement 1 except that you only know the beginning balance of accounts receivable for 2016. Given this information and assuming that the operating cash flows for 2016 are $41,000, calculate the ending balance for accounts receivable.
Oliver Company provided the following information for the years 2015 and 2016:
Refer to the information for Oliver Company on the previous page.
Required:
1. Calculate the change in cash flows that serves as the control figure for the statement of cash flows.
2. Prepare a schedule that provides operating cash flows for the year 2016 using the indirect method.
3. Assume that you have all the information provided for Requirement 1 except that you only know the beginning balance of accounts receivable for 2016. Given this information and assuming that the operating cash flows for 2016 are $41,000, calculate the ending balance for accounts receivable.
Explanation
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Verified
Cash flow statement:
Cash flow statemen...
Cornerstones of Managerial Accounting 6th Edition by Maryanne Mowen,Don Hansen ,Dan Heitger
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