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 $202,900 64,200 27,100 24,200 11,100 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: Loss on disposal of equipment Changes in current operating assets and liabilities: Increase in accounts receivable Increase in accounts payable Net cash flow from operating activities

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 $202,900 64,200 27,100 24,200 11,100 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: Loss on disposal of equipment Changes in current operating assets and liabilities: Increase in accounts receivable Increase in accounts payable Net cash flow from operating activities

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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It says they answers are wrong from your example.
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