Data for Whitlock Company are presented below
Additional information
- Accounts receivable increased $200,000 during the year, and inventory decreased $500,000.
- Prepaid expenses increased $150,000 during the year
- Accounts payable to suppliers of merchandise decreased $340,000 during the year.
- Accrued expenses payable decreased $100,000 during the year.
- Operating expenses include depreciation expense of $70,000
Instructions
Prepare the operating activities section of the statement of cash flows using the direct method.
Solution
Whitlock Company
Statement of Cash Flows - direct Method (Partial)
For the Year Ended November 30, 2020
Statement of Cash Flows - direct Method (Partial)
For the Year Ended November 30, 2020
