Wolf’s accounts payable balances are composed solely of amounts due to suppliers for purchases of inventory on account.
January 3, 2018
hat is the amount of cash collections that Spencer will report in the Operating Activities section of its 2017 statement of cash flows assuming that the direct method is used?
January 3, 2018

What is the amount of cash collections that Stanley will report in the Operating Activities section of its 2017 statement of cash flows assuming that the direct method is used?

Stanley Company’s comparative balance sheets included accounts receivable of $80,800 at December 31, 2016, and $101,100 at December 31, 2017. Sales reported by Stanley on its 2017 income statement amounted to $1,450,000. What is the amount of cash collections that Stanley will report in the Operating Activities section of its 2017 statement of cash flows assuming that the direct method is used? View Solution:
Stanley Company s comparative balance sheets included accounts receivable of 80 800

 

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