Question
OTS company delivered 30 earthmovers to customers for which the customers were billed $4,100,000. The company collected $4,000,000 in cash from customers during the year.
OTS company delivered 30 earthmovers to customers for which the customers were billed $4,100,000. The company collected $4,000,000 in cash from customers during the year. Indicate which of these amounts will appear on the income statement and which on the statement of cash flows.
None of the above
$4,100,000 appears on the statement of cash flows, and $4,000,000 appears on the income statement.
$4,000,000 appears on the statement of cash flows, and $4,100,000 appears on the income statement.
$4,000,000 appears on both the income statement and the statement of cash flows.
$4,100,000 appears on both the income statement and the statement of cash flows.
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Global Strategy
Authors: Mike W. Peng
5th Edition
0357512367, 978-0357512364
