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7 Cards in this Set
- Front
- Back
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Direct method titles |
Cash received from customers Less: cash payments for Merch Operating expenses Interest Income taxes |
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Calculate cash received from customers |
Sales minus increase in A/R (plus decrease) |
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Calculate cash payments for merchandise |
Cost of merch sold (+) increase in inventory (-) decrease in inventory (+) decrease in A/P (-) increase in A/P |
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Calculate cash payments for operating expenses |
Operating expenses (+) decrease in accrued expenses payable (-) increase in accrued exp payable |
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Calculate cash payments for interest expense |
Interest expense (+) decrease in interest payable (-) increase in interest payable |
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Calculate cash payments for income taxes |
Income tax expense (+) decrease in income tax payable (-) increase in income tax payable |
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Cash paid for dividends |
Dividends paid minus increase in dividends payable |
