Connect Access Card for Financial Accounting: Information and Decisions
Connect Access Card for Financial Accounting: Information and Decisions
8th Edition
ISBN: 9781259662966
Author: John J Wild
Publisher: McGraw-Hill Education
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Chapter 12, Problem 12E
Summary Introduction

Introduction: Cash flow statement is a statement which show the changes in balance sheet and income statement and its impact on the balance of cash and cash equivalents. It has three parts, operating, investing and financing activities. To Prepare: cash flow statement as per direct method.

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The income statement of a merchandising company includes Cost of Goods Sold (COGS) and gross profit, which are not found on a service company’s income statement. This is because merchandising companies sell physical products, while service companies provide intangible services. Service company income statements are simpler, usually showing revenue from services minus operating expenses like salaries, rent, and supplies. In short, the main difference is that merchandising firms track product costs and gross profit, while service companies do not. Respond to this post. agree or disagree
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Connect Access Card for Financial Accounting: Information and Decisions

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The KEY to Understanding Financial Statements; Author: Accounting Stuff;https://www.youtube.com/watch?v=_F6a0ddbjtI;License: Standard Youtube License