Thomas Ltd Uses the Direct Method to Prepare Its Cash

question 14

Multiple Choice

Thomas Ltd uses the direct method to prepare its cash flow statement.Refer to the following information reported for the year 2016: Sales revenue,$41,000
Interest revenue,$700
Accounts receivable,beginning balance,$13,500
Accounts receivable,ending balance,$26,000
There were no amounts reported for Interest receivable.
In the operating activities section of the cash flow statement,what amount will be shown for total cash receipts?

• A)$13,500
• B)$54,500
• C)$29,200
• D)$26,000

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Definitions:

Japanese

Relating to Japan, its people, language, or culture. Japanese is a nationality, a language, and is also used to describe aspects relevant to Japan.

Paleoanthropology

The branch of anthropology focused on the study of ancient humans and their relatives through fossils and other physical remains.

Absolute Dating

A method of determining the specific date of an archaeological or paleontological site or artifact, using techniques such as radiometric dating.

Relative Dating

A technique used in archaeology and geology to determine the chronological sequence of historical or geological events by comparing them to other events.