Cash Flows from Operating Activities—Indirect Method Staley Inc. reported the following data: Net income $410,500 Depreciation expense 79,500 Loss on disposal of equipment 20,700 Increase in accounts receivable 10,700 Increase in accounts payable 10,000 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 outflows, cash payments, decreases in cash, or any negative adjustments. Staley Inc. Statement of Cash Flows (partial) Cash flows from operating activities: $fill in the blank 2 Adjustments to reconcile net income to net cash flow from operating activities: fill in the blank 4 fill in the blank 6 Changes in current operating assets and liabilities: fill in the blank 8 fill in the blank 10 Net cash flow from operating activities
Cash Flows from Operating Activities—Indirect Method Staley Inc. reported the following data: Net income $410,500 Depreciation expense 79,500 Loss on disposal of equipment 20,700 Increase in accounts receivable 10,700 Increase in accounts payable 10,000 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 outflows, cash payments, decreases in cash, or any negative adjustments. Staley Inc. Statement of Cash Flows (partial) Cash flows from operating activities: $fill in the blank 2 Adjustments to reconcile net income to net cash flow from operating activities: fill in the blank 4 fill in the blank 6 Changes in current operating assets and liabilities: fill in the blank 8 fill in the blank 10 Net cash flow from operating activities
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Staley Inc. reported the following data:
| Net income | $410,500 |
| 79,500 | |
| Loss on disposal of equipment | 20,700 |
| Increase in |
10,700 |
| Increase in accounts payable | 10,000 |
Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate
| Staley Inc. | ||
| Statement of Cash Flows (partial) | ||
| Cash flows from operating activities: | ||
| $fill in the blank 2 | ||
| Adjustments to reconcile net income to net cash flow from operating activities: | ||
| fill in the blank 4 | ||
| fill in the blank 6 | ||
| Changes in current operating assets and liabilities: | ||
| fill in the blank 8 | ||
| fill in the blank 10 | ||
| Net cash flow from operating activities | $fill in the blank 11 |
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