P23-7ACC349 - A Both methods can be used and should be...

Info icon This preview shows page 1. Sign up to view the full content.

A) Both methods can be used and should be accepted in most circumstances although the direct method may be more popular. The advantage/disadvantage of the direct method is that it allows a person to see, in more detail, where the company is bringing in money and where it is loosing the money. The advantage/disadvantage of the indirect method is that it shows a correlation between the income statement and the balance sheet. It shows the increase/decrease of accts payable and recievable. B) Winston Company Statement of Cash Flows For the Year Ending May 31, 2008 Cash flows from operating activities Cash receipts
Image of page 1
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern