User Account

All Pages

Discuss the three sections of the indirect method

Assignment Help Accounting Basics
Reference no: EM13136890

GAAP requires the Statement of Cash Flow to be presented in one of two formats (direct or indirect). The most common method used is the indirect method. Discuss the three sections of the indirect method of presentation for the Statement of Cash Flows. Also discuss why the statement of cash flow is just as important as the income statement.

Reference no: EM13136890

Questions Cloud

What general fund journal entry should grand marais make : Grand Marais city's fiscal year ends on June 30. Jasper uses encumbrance accounting. On May 6, a purchase order was approved and issued for supplies in the amount of $5,000. Grand Marias received these supplies on June 2, and the $5,000 invoice wa..
What amount of qpai is available to green : The cost of goods sold is $5 for one skirt and $6 for one bluse. Other allocated costs are $1 for one skirt and $5 for one blusel. what amount of QPAI is available to Green for claculating the DPAD?
Balance sheet for decision making : Discuss the usefulness of the Balance Sheet for decision making. What types of decisions (and by whom) are made using data obtained from the Balance Sheet.
Prepare journal entry to record payne income taxes : Taxable income for 2011 is $180 million and the tax rate is 40%. Prepare journal entry(s) to record Payne’s income taxes for 2011, assuming it is more likely than not that one-half of the deferred tax asset will ultimately be realized.
Discuss the three sections of the indirect method : Discuss the three sections of the indirect method of presentation for the Statement of Cash Flows. Also discuss why the statement of cash flow is just as important as the income statement.
What is the theoretical yield of bromobenzene : What is the theoretical yield of bromobenzene in this reaction when 30.0 g of benzene reacts with 65.0 g of bromine?
Cost of goods maufactured : cost of goods maufactured? direct labor cost? direct materials cost? manufacturing overhead applied? manufacturing overhead was (how much) over or under applied?
Find probability that average diameter is more-centimeters : Find the probability that the average diameter of those sand dollars is more than 2.707 centimeters. Assume that the variable is normally distributed.
How human behavior changes based on social situations : Describe at least two examples of how human behavior changes based on social situations.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Balance sheet of starbucks company

If your are one of the audit team members who is auditing Starbucks company, suggest some procedures you think the audit team would use to complete their audit work on the the inventory accounts on the balance sheet of Starbucks company.

  Elimination in the consolidation process

The amount of unrealized intercompany profit in ending inventory at December 31, 2006 that should be eliminated in the consolidation process is:

  Computing-journalizing payroll transactions

Record the payroll for the two employees at December 31 and record the employer's share of payroll tax expense for the December 31 payroll. Two journal entries required.

  Report in a consolidated balance sheet

using the entity theory, at what amount would land be reported in a consolidated balance sheet prepared immediately after the combination?

  Amount of accumulated depreciation

Calculate the amount of accumulated depreciation to be debited or credited in the preparation of the 2009 consolidated balance sheet.

  Using t accounts to record transactions

Use T accounts to record transactions involving assets, liabilites and owners equity for the following:

  Determining generally accepted accounting principles

Generally Accepted Accounting Principles (GAAP) is based on accrual accounting. Define and describe accrual accounting and provide examples

  Gross income-constructive receipt of income

Which of the following is not considered actual receipt or "constructive receipt" of income in the current year? Which of the following does not have to be included in gross income?

  Proble related to property management firm

She has a property management firm make all management decision for her. During 2010 she incurred a loss, for tax purposes, of 30,000 on the office building. How must Mary Beth treat this on her 2010 tax return?

  Entries which reflecting the purchase

Give Sapling's entries reflecting the purchase of wood chipper. Give Fir's entries reflecting the sale of wood chipper.

  Determine the cost of goods available for sale

Determine (1) the ending inventory, and (2) the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average-cost). Prove the accuracy of the cost of goods sold under the FIFO and LIFO methods.

  Find dividends to the owners during 2010

Garcia Company began 2010 with net assets of $80,000. Net income calculated by using the capital maintenance concept was $21,000. During 2010 owners contributed $26,000 of new capital. By year-end, the net assets totaled $78,000. Dividends to the own..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd