Author Question: A(n) ____________________ is merchandise returned by a customer for a refund. Fill in the blank(s) ... (Read 161 times)

lilldybug07 · **on:** Jul 5, 2018

A(n) ___________________ _ is merchandise returned by a customer for a refund.
Fill in the blank(s) with correct word

Question 2

Team Shirts, Inc. reported 5,000 of depreciation expense for the year. How is this amount reported on the statement of cash flows prepared using the indirect method and the direct method?

What will be an ideal response?

blakcmamba · **Reply #1 on:** Jul 5, 2018

Answer to Question 1

sales return

Answer to Question 2

The 5,000 would be added to net income in the operating activities section of the statement of cash flows using the indirect method. Depreciation expense does not appear in the operating activities section when the direct method is used.