The following items were reported on the balance sheets and income statement for Carlton Co.: What amount would be reported in the operating activities section of the statement of cash flows for collections from customers under the direct method assuming that all sales are on credit?
A) $850,000
B) $857,000
C) $843,000
D) Cannot be determined without further information.

Question

The following items were reported on the balance sheets and income statement for Carlton Co.:  What amount would be reported in the operating activities section of the statement of cash flows for collections from customers under the direct method assuming that all sales are on credit?
A) $850,000 
B) $857,000 
C) $843,000 
D) Cannot be determined without further information.

Quizplus · Accepted Answer

The Answer of The following items were reported on the balance sheets and income statement for Carlton Co.:  What amount would be reported in the operating activities section of the statement of cash flows for collections from customers under the direct method assuming that all sales are on credit?
A) $850,000 
B) $857,000 
C) $843,000 
D) Cannot be determined without further information.

The Following Items Were Reported on the Balance Sheets and Income