Wilhelm Company collected $7,200 in May of 2020 for 4 months of service which would take...
Wilhelm Company collected $7,200 in May of 2020 for 4 months of service which would take place from October of 2020 through January of 2021. The amount reported as cash flow from operating activities would be?
A 7200
B 5400
C 0
D 1800
Homework Answers
Correct Answer : A 7200
Explanation : Under cash flow statement whatever received against sale or service provided will be taken in to cash flow from operating activities irrespective of period for which it has been provided.
Therefore correct answer is $7200.
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