Multiple Choice
On December 31, 2018, Wellstone Company reported net income of $70,000 and sales of $210,000. The company also reported beginning and ending accounts receivable at $20,000 and $25,000, respectively. Wellstone will report cash collected from customers in its 2018 statement of cash flows (direct method) in the amount of:
A) $215,000.
B) $285,000.
C) $135,000.
D) $205,000.
Correct Answer:

Verified
Correct Answer:
Verified
Q92: Creble Company reported net income for
Q93: Cash flows from financing activities do not
Q94: The accounting records of Westlake Industries
Q95: Which of the following is reported as
Q96: Charlene Company sold a printer with a
Q98: In preparing its cash flow statement
Q99: Moon Company owns 56 million shares of
Q100: Generally speaking, cash flows from operating activities
Q101: Prepare the summary entries necessary to
Q102: Which of the following is always reported