Prepare the operating activities section using direct method

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Reference no: EM131837071

Qusetion: Data for Munsun Company are presented in Problem.

Instructions: Prepare the operating activities section of the statement of cash flows using the direct method

Problem: The income statement of Munsun Company is presented here.

Additional information: 1. Accounts receivable decreased $380,000 during the year, and inventory decreased $300,000.

2. Prepaid expenses increased $150,000 during the year.

3. Accounts payable to suppliers of merchandise decreased $350,000 during the year.

4. Accrued expenses payable decreased $100,000 during the year.

5. Administrative expenses include depreciation expense of $110,000.

Instructions: Prepare the operating activities section of the statement of cash flows for the year ended November 30, 2017, for Munsun Company, using the indirect method.

Reference no: EM131837071

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