question archive The following items were reported on the statement of financial positions and statement of comprehensive income for Online
The following items were reported on the statement of financial positions and statement of comprehensive income for Online
Subject:AccountingPrice: Bought3
The following items were reported on the statement of financial positions and statement of comprehensive income for Online.com:Accounts receivable, 30 June 2013 $350 000 Accounts receivable, 30 June 2014 $225 000 Sales for financial year ended 30 June 2014 $1 000 000 What amount would be reported in the operating activities section of Online.com’s statement of cash flows for collections from customers under the direct method, assuming that all sales are on credit?A. $1 225 000B. $1 125 000C. $1 250 000D. $975 000
