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MNO Corporation needs to prepare a statement of cash flows for the year ended December 31, 20XX, using the direct method. The following information is
MNO Corporation needs to prepare a statement of cash flows for the year ended December 31, 20XX, using the direct method. The following information is available:
- Cash received from customers: $400,000
- Cash paid to suppliers: $200,000
- Cash paid for operating expenses: $100,000
- Interest received: $20,000
- Income taxes paid: $50,000
MNO Corporation needs to prepare a statement of cash flows for the year ended December 31, 20XX, using the direct method. The following information is available:
- Cash received from customers: $400,000
- Cash paid to suppliers: $200,000
- Cash paid for operating expenses: $100,000
- Interest received: $20,000
- Income taxes paid: $50,000
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Accounting Information Systems
Authors: Marshall B. Romney, Paul J. Steinbart
12th edition
132552620, 978-0132552622
