Solution-The statement of cash flows under the indirect

The statement of cash flows under the indirect method

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Reference no: EM13918011

Ragg Shop, Inc. (RSI), recognized $3,800 of sales revenue on account and collected $2,950 of cash from accounts receivable. Further, RSI recognized $1,200 of operating expenses on account and paid $900 cash as partial settlement of accounts payable.

Required:

Based on this information alone:

a. Prepare the operating activities section of the statement of cash flows under the direct method.

b. Prepare the operating activities section of the statement of cash flows under the indirect method.

Reference no: EM13918011

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The statement of cash flows under the indirect method

Reference no: EM13918011

Reference no: EM13918011

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