On December 31, 2018, Coldstone Company reported net income of $70,000 and sales of $210,000. The company also reported beginning and ending accounts receivable at $20,000 and $25,000, respectively. Coldstone will report cash collected from customers in its 2018 statement of cash flows (direct method) in the amount of: a.$285,000 b.$215,000 c.$135,000 d.$205,000
On December 31, 2018, Coldstone Company reported net income of $70,000 and sales of $210,000. The company also reported beginning and ending accounts receivable at $20,000 and $25,000, respectively. Coldstone will report cash collected from customers in its 2018 statement of cash flows (direct method) in the amount of: a.$285,000 b.$215,000 c.$135,000 d.$205,000
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter12: The Statement Of Cash Flows
Section: Chapter Questions
Problem 12.6E
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Question
On December 31, 2018, Coldstone Company reported net income of $70,000 and sales of $210,000. The company also reported beginning and ending
a.$285,000
b.$215,000
c.$135,000
d.$205,000
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