Cash Flows from Operating Activities—Indirect Method Staley Inc. reported the following data: Net income $446,400 Depreciation expense 59,100 Loss on disposal of equipment 39,800 Increase in accounts receivable 27,200 Increase in accounts payable 10,700 Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments. Staley Inc. Statement of Cash Flows (partial) Cash flows from operating activities: $ Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and liabilities: Net cash flow from operating activities
Cash Flows from Operating Activities—Indirect Method Staley Inc. reported the following data: Net income $446,400 Depreciation expense 59,100 Loss on disposal of equipment 39,800 Increase in accounts receivable 27,200 Increase in accounts payable 10,700 Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments. Staley Inc. Statement of Cash Flows (partial) Cash flows from operating activities: $ Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and liabilities: Net cash flow from operating activities
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter15: Statement Of Cash Flows
Section: Chapter Questions
Problem 5E: Cash flows from operating activitiesindirect method The net income reported on the income statement...
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Question
Staley Inc. reported the following data:
| Net income | $446,400 |
| 59,100 | |
| Loss on disposal of equipment | 39,800 |
| Increase in accounts receivable | 27,200 |
| Increase in accounts payable | 10,700 |
Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments.
| Staley Inc. | ||
| Statement of Cash Flows (partial) | ||
| Cash flows from operating activities: | ||
| $ | ||
| Adjustments to reconcile net income to net cash flow from operating activities: | ||
| Changes in current operating assets and liabilities: | ||
| Net cash flow from operating activities | $ |
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