Refer to Best Buys statement of cash flows in Appendix A (a) Which method is used to compute its net cash provided by operating activities (b) While its balance sheet shows an increase in receivables from fiscal years 2006 to 2007, why is this increase in receivables subtracted when computing net c...

a Indirect method b The increase in receivables represent ...

Refer to Best Buys statement of cash flows in Appendix A. (a) Which method is used to

Question:

Refer to Best Buy’s statement of cash flows in Appendix A.
(a) Which method is used to compute its net cash provided by operating activities?
(b) While its shows an increase in receivables from fiscal years 2006 to 2007, why is this increase in receivables subtracted when computing net cash provided by operating activities for the year ended March 3, 2007?

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...