24) Janna Bronson is trying to decide whether or not to prepare the statement of cash flows using the direct method. Explain to Janna the advantages and disadvantages of using this method.
25) Explain how the operating activities section of the statement of cash flows is prepared using the indirect method.
26) 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?
27) The beginning balance in accounts payable was $4,365. The ending balance was $2,995. How is the accounting information for these items reported on the statement of cash flows using the indirect method?
28) Team Shirts, Inc. recognized $8,144 of supplies expense for the year. At the beginning of the year, the balance in Supplies was $1,625. At the end of the year, the balance was $2,035. All supplies have been paid for in cash. How is the accounting information for these items reported on the statement of cash flows using the
indirect
method?