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Cash Flows from Operating Activities-Indirect Method Staley Inc. reported the following data: Net income Depreciation expense Loss on disposal of equipment Increase in accounts receivable Increase in accounts payable $229,400 65,000 26,000 14,800 12,200 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: Net income Adjustments to reconcile net income to net cash flow from operating activities: Depreciation Loss on disposal of equipment Changes in current operating assets and liabilities: Increase in accounts receivable Increase in accounts payable 00 00

Cash Flows from Operating Activities-Indirect Method Staley Inc. reported the following data: Net income Depreciation expense Loss on disposal of equipment Increase in accounts receivable Increase in accounts payable $229,400 65,000 26,000 14,800 12,200 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: Net income Adjustments to reconcile net income to net cash flow from operating activities: Depreciation Loss on disposal of equipment Changes in current operating assets and liabilities: Increase in accounts receivable Increase in accounts payable 00 00

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Module 8 Problem Set 1. BE.13.02 2. BE.13.01 3. BE.13.04.ALGO 4. BE.13.06 5. BE.13.05 6. BE.13.03.ALGO Cash Flows from Operating Activities-Indirect Method Staley Inc. reported the following data: Net income Depreciation expense Loss on disposal of equipment Increase in accounts receivable Increase in accounts payable $229,400 65,000 26,000 14,800 12,200 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) Increase in accounts payable Net cash flow from operating activities Cash flows from operating activities: Net income ✓ Adjustments to reconcile net income to net cash flow from operating activities: Depreciation Loss on disposal of equipment ✓ Changes in current operating assets and liabilities: Increase in accounts receivable 0 00 00
Transcribed Image Text:Module 8 Problem Set 1. BE.13.02 2. BE.13.01 3. BE.13.04.ALGO 4. BE.13.06 5. BE.13.05 6. BE.13.03.ALGO Cash Flows from Operating Activities-Indirect Method Staley Inc. reported the following data: Net income Depreciation expense Loss on disposal of equipment Increase in accounts receivable Increase in accounts payable $229,400 65,000 26,000 14,800 12,200 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) Increase in accounts payable Net cash flow from operating activities Cash flows from operating activities: Net income ✓ Adjustments to reconcile net income to net cash flow from operating activities: Depreciation Loss on disposal of equipment ✓ Changes in current operating assets and liabilities: Increase in accounts receivable 0 00 00
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