Lone Star Hat Company uses the direct method for its statement of cash flow.Assume Accrued Liabilities relate to Operating Expenses.It reports the following information regarding the year ending December 31,2018:
Assume that there were no sales of long-term assets,no interest revenue,and no expenses other than the expenses shown above.Also,assume that Accounts Payable is for purchases of merchandise inventory only.Prepare the operating activities section of the statement of cash flows.

Question

Lone Star Hat Company uses the direct method for its statement of cash flow.Assume Accrued Liabilities relate to Operating Expenses.It reports the following information regarding the year ending December 31,2018:
    Assume that there were no sales of long-term assets,no interest revenue,and no expenses other than the expenses shown above.Also,assume that Accounts Payable is for purchases of merchandise inventory only.Prepare the operating activities section of the statement of cash flows.

Quizplus · Accepted Answer

The Answer of Lone Star Hat Company uses the direct method for its statement of cash flow.Assume Accrued Liabilities relate to Operating Expenses.It reports the following information regarding the year ending December 31,2018:
    Assume that there were no sales of long-term assets,no interest revenue,and no expenses other than the expenses shown above.Also,assume that Accounts Payable is for purchases of merchandise inventory only.Prepare the operating activities section of the statement of cash flows.

Lone Star Hat Company Uses the Direct Method for Its