Cash Flows from Operating Activities—Indirect Method Staley Inc. reported the following data: Net income $344,700 Depreciation expense 73,600 Loss on disposal of equipment 34,500 Increase in accounts receivable 27,800 Increase in accounts payable 12,600 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: $ 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 $344,700 Depreciation expense 73,600 Loss on disposal of equipment 34,500 Increase in accounts receivable 27,800 Increase in accounts payable 12,600 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: $ 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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Cash Flows from Operating Activities—Indirect MethodStaley Inc. reported the following data:
Net income $344,700 Depreciation expense73,600 Loss on disposal of equipment 34,500 Increase in accounts receivable 27,800 Increase in accounts payable 12,600 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: $ 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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