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When preparing a statement of cash flows on the indirect method each of the following should be classified as an operating activity cash flow except?
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Which income statement is classified by function and which one is classified by behavior?
The multi-step income statement is classified by function, and the single-step income statement is classified by behavior.
What are the different methods of preparing income statement?
There are two methods of preparing Income Statement. They are:- 1. Absorption costing method. 2. variable Costing method.
What is the common denominator for each item on the income statement when preparing a common size income statement?
net income
What is the difference between preparing a trial balance and preparing a balance sheet?
AnswerTrial Balance is a statement showing the closing balances of all the ledger accounts and Balance Sheet is a statement showing the closing balances of Assets and Liabilities.
What is the sequence for preparing financial statements?
1st: Income statement 2nd:Owner's equity statement 3rd:Balance sheet 4th:Statement of cash flows
Methods of preparing statement of Cash flow?
Following are methods:1 - direct method2 - indirect method
Why interest is not written in operating expenses in income statement?
Borrowing is a financing decision not an operating decision thus interest which derives from borrowing is not classified as operating either.
How are cash flows classified in a cash flow statement?
Cash flows are classified with following three catagories:Cash flow from operating activitiescash flow from investing activitiescash flow from financing activities
Which one of the following items is not generally used in preparing a statement of cash flows?
Adjusted trial balance
Which income statement is classified by function and which one is classified by behavior?
The multi-step income statement is classified by function, and the single-step income statement is classified by behavior.
Is a comma needed after the therefore and at the moment in the following sentence Therefore at the moment you are preparing a memo?
yes, it is a parenthitical statement {look it up}
When preparing a Cash Flow statement under the indirect method you would?
Adjust the net income for non cash items to find cash flows from operating activities.
What are the different methods of preparing income statement?
There are two methods of preparing Income Statement. They are:- 1. Absorption costing method. 2. variable Costing method.
Why is depreciation taken out of both income statement and cash flow statement?
Depreciation is added back to net income in cash flow statment because it is not involve directly in reduction of cash while preparing cash flows of operating activities using indirect method.
Rudy wrote ideas for his report on preparing a supply kit in case of storms and other natural disasters. Which of these statements would BEST begin a paragraph about preparing a supply kit A)statement 1 B)statement 2 C)statement 3 D)statement 4?
Statement 4
What is the object of preparing the statement of affairs?
i dont no the answer plz say
What is the common denominator for each item on the income statement when preparing a common size income statement?
net income
