Determining Cash Flows from (Used for) Operating Activities Yeoman Inc. reported the following data: Net income $349,000 Depreciation expense 50,400 Loss on disposal of equipment 40,000 Increase in accounts receivable 10,300 Increase in accounts payable 12,800 Prepare the Cash Flows from (used for) 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. Yeoman Inc. Statement of Cash Flows (partial) Cash flows from (used for) operating activities: Adjustments to reconcile net income to net cash flows from (used for) operating activities: Changes in current operating assets and liabilities: Net cash flows from operating activities
Determining Cash Flows from (Used for) Operating Activities Yeoman Inc. reported the following data: Net income $349,000 Depreciation expense 50,400 Loss on disposal of equipment 40,000 Increase in accounts receivable 10,300 Increase in accounts payable 12,800 Prepare the Cash Flows from (used for) 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. Yeoman Inc. Statement of Cash Flows (partial) Cash flows from (used for) operating activities: Adjustments to reconcile net income to net cash flows from (used for) operating activities: Changes in current operating assets and liabilities: Net cash flows from operating activities
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Determining Cash Flows from (Used for) Operating Activities
Yeoman Inc. reported the following data:
Net income
$349,000
Depreciation expense
50,400
Loss on disposal of equipment
40,000
Increase in accounts receivable
10,300
Increase in accounts payable
12,800
Prepare the Cash Flows from (used for) 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.
Yeoman Inc.
Statement of Cash Flows (partial)
Cash flows from (used for) operating activities:
Adjustments to reconcile net income to net cash flows from (used for) operating activities:
Changes in current operating assets and liabilities:
Net cash flows from operating activities
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