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15 Aug 2016, 19:34
Kudos
Bookmarks
Hello everyone!
I am not certain if this is the proper place to post something like this, however I am in need of some help in regards to my Basic Financial Accounting class I am taking before I begin my program on September.
I am currently taking the HBS Basic Financial Accounting class and it is not my typical style of learning. Mainly, I have no idea how to correct my mistakes so I can learn from them.
I have already taken two of three tests and I am not asking for someone to do that for me, but I am going back through the exam I have already taken trying to figure out where I went wrong.
I am hoping some one can clarify this,
Consider the same scenario as in the previous question: On March 31, 2015, Cars, Inc. owes Preston Devices, one of its suppliers, $25,000 for previous purchases. During April 2015, Preston sells Cars devices with a sales price of $10,000 and a cost to Preston of $8,000. During April Cars pays Preston $12,000 against the amount owed to Preston. If Preston had no other sales and records no other collections from customers during the month of April, the operating section of Preston's indirect method statement of cash flows for April will show the following de-accrual adjustments to net income:
Subtract change in accounts receivable; add change in inventory.
Add change in accounts receivable; subtract change in inventory
Add change in accounts receivable; add change in inventory.
Subtract change in accounts receivable; subtract change in inventory.
I selected the second option which was incorrect.
Would I be making the right choice were I to choose the 4th option? Why or why not?
If of course that is not too much trouble!
Thank you
I am not certain if this is the proper place to post something like this, however I am in need of some help in regards to my Basic Financial Accounting class I am taking before I begin my program on September.
I am currently taking the HBS Basic Financial Accounting class and it is not my typical style of learning. Mainly, I have no idea how to correct my mistakes so I can learn from them.
I have already taken two of three tests and I am not asking for someone to do that for me, but I am going back through the exam I have already taken trying to figure out where I went wrong.
I am hoping some one can clarify this,
Consider the same scenario as in the previous question: On March 31, 2015, Cars, Inc. owes Preston Devices, one of its suppliers, $25,000 for previous purchases. During April 2015, Preston sells Cars devices with a sales price of $10,000 and a cost to Preston of $8,000. During April Cars pays Preston $12,000 against the amount owed to Preston. If Preston had no other sales and records no other collections from customers during the month of April, the operating section of Preston's indirect method statement of cash flows for April will show the following de-accrual adjustments to net income:
Subtract change in accounts receivable; add change in inventory.
Add change in accounts receivable; subtract change in inventory
Add change in accounts receivable; add change in inventory.
Subtract change in accounts receivable; subtract change in inventory.
I selected the second option which was incorrect.
Would I be making the right choice were I to choose the 4th option? Why or why not?
If of course that is not too much trouble!
Thank you
15 Feb 2017, 03:09
Kudos
Bookmarks
MtnDude89
Hello everyone!
I am not certain if this is the proper place to post something like this, however I am in need of some help in regards to my Basic Financial Accounting class I am taking before I begin my program on September.
I am currently taking the HBS Basic Financial Accounting class and it is not my typical style of learning. Mainly, I have no idea how to correct my mistakes so I can learn from them.
I have already taken two of three tests and I am not asking for someone to do that for me, but I am going back through the exam I have already taken trying to figure out where I went wrong.
I am hoping some one can clarify this,
Consider the same scenario as in the previous question: On March 31, 2015, Cars, Inc. owes Preston Devices, one of its suppliers, $25,000 for previous purchases. During April 2015, Preston sells Cars devices with a sales price of $10,000 and a cost to Preston of $8,000. During April Cars pays Preston $12,000 against the amount owed to Preston. If Preston had no other sales and records no other collections from customers during the month of April, the operating section of Preston's indirect method statement of cash flows for April will show the following de-accrual adjustments to net income:
Subtract change in accounts receivable; add change in inventory.
Add change in accounts receivable; subtract change in inventory
Add change in accounts receivable; add change in inventory.
Subtract change in accounts receivable; subtract change in inventory.
I selected the second option which was incorrect.
Would I be making the right choice were I to choose the 4th option? Why or why not?
If of course that is not too much trouble!
Thank you
Hey MtnDude89,I am not certain if this is the proper place to post something like this, however I am in need of some help in regards to my Basic Financial Accounting class I am taking before I begin my program on September.
I am currently taking the HBS Basic Financial Accounting class and it is not my typical style of learning. Mainly, I have no idea how to correct my mistakes so I can learn from them.
I have already taken two of three tests and I am not asking for someone to do that for me, but I am going back through the exam I have already taken trying to figure out where I went wrong.
I am hoping some one can clarify this,
Consider the same scenario as in the previous question: On March 31, 2015, Cars, Inc. owes Preston Devices, one of its suppliers, $25,000 for previous purchases. During April 2015, Preston sells Cars devices with a sales price of $10,000 and a cost to Preston of $8,000. During April Cars pays Preston $12,000 against the amount owed to Preston. If Preston had no other sales and records no other collections from customers during the month of April, the operating section of Preston's indirect method statement of cash flows for April will show the following de-accrual adjustments to net income:
Subtract change in accounts receivable; add change in inventory.
Add change in accounts receivable; subtract change in inventory
Add change in accounts receivable; add change in inventory.
Subtract change in accounts receivable; subtract change in inventory.
I selected the second option which was incorrect.
Would I be making the right choice were I to choose the 4th option? Why or why not?
If of course that is not too much trouble!
Thank you
Did you find anyone to clarify your problem? If yes please let me know because i'm too facing the same kind of problem
