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Identify four possible reporting methods for comprehensive

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Problem 1: Identify the four possible reporting methods for comprehensive income (in theory). Explain the pros and cons of each method.

Problem 2: Describe how are the following calculated when preparing the cash flow statement using the direct method:

  1. Cash collected from customers,
  2. Cash paid for merchandise,
  3. Cash paid to employees and cash paid for other accrued expenses, and
  4. Cash paid for other operating costs including insurance and other prepaid expenses.

Reference no: EM132778287

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