The Cash Flows from Operating Activities Are Reported by the Direct

question 54

Short Answer

The cash flows from operating activities are reported by the direct method on the statement of cash
flows.
1)2)Determine the following:
If sales for the current year were $695,000 and accounts receivable decreased by $43,500 during the year, what was the amount of cash received from customers?
If income tax expense for the current year was $56,000 and income tax payable
decreased by $5,200 during the year, what was the amount of cash payments of income tax?

---

Definitions:

Pearson's Correlations

A measure of the linear correlation between two variables, ranging from -1 to 1, where 1 means a perfect positive correlation and -1 means a perfect negative correlation.

Chronic Diseases

Long-term medical conditions that are persistent and typically require ongoing management or treatment.

Hispanic Populations

Groups of people or communities that identify with or are derived from Spanish-speaking countries, especially those within Latin America.

Noxious Substance

A toxic or harmful substance that can cause damage to living organisms through inhalation, ingestion, or skin absorption.