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

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

a. Explain FOB Destination. Please don't do plagiarism. Thank you!
Select the letter of the item below that best matches the definitions that follow. a. Data Files CD ________ b. Lists ________ c. Forms ________ d. Registers ________ e. Reports and graphs ________ f. Restoring a backup ________ g. Icon bar ________ h. Home page ________ i. Backing up a file ________ 1. One click access to QuickBooks Accountant Centers and Home page. 2. The process of rebuilding a backup file to a full QuickBooks Accountant file ready for additional input. 3. Electronic representations of paper documents used to record business activities such as customer invoices, vendor bills, and checks. 4. A big-picture approach of how your essential business tasks fit together organized by logical groups such as customers, vendors, and employees. 5. Groups of names such as customers, vendors, employees, items, and accounts. 6. Contains backups of all the practice files needed for chapter work and completion of assignments. 7. The process of creating a copy of a…
Define the following term using 1 or 2 complete sentences (not just key words). ERP System
Define Inventories. (Please avoid plagiarism and please explain clearly. Thank you!)
Describe the elements of an e-mail address.
please help me
kindly post the solution to the question thanks
i cant find the answer on the site
Please provide answer to questions a to c
Please answer E & G from the attached questions . Please label accordingly e.g E) instead of step 1 . Using CVP
Please respond via a memo on your thoughts of the GAAP article bellow:
it is still incorrect, please find correct answer