Instructions: Identify the Following

question 15

Essay

Instructions: Identify the following. Be as specific as possible, and include names, dates, and relevant facts as appropriate. Be sure to explain the significance of the person or term.
Sputnik

Analyze changes in non-current assets, liabilities, and equity accounts to determine cash flows from investing and financing activities.

Interpret the impacts of changes in current asset and liability accounts on cash flows.

Recognize the significance and reporting of noncash investing and financing activities.

Calculate specific cash flow amounts, such as cash received from the sale of equipment or dividends received.

---

Definitions:

Direct Method

A cash flow statement preparation approach that lists major categories of gross cash receipts and payments.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including materials and labor.

Beginning Balances

The balances of accounts at the start of an accounting period, carried forward from the end of the previous period.

Accounts Receivable

The amount customers are yet to pay a company for goods or services that have already been delivered or performed.