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Featherstone Inc. reported the following data: Net income $296,000 Depreciation expense 113,100 Gain on disposal of equipment 58,200 Decrease in accounts receivable 71,300 Decrease in accounts payable 27,100 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. Featherstone Inc.Statement of Cash Flows (partial)

Featherstone Inc. reported the following data: Net income $296,000 Depreciation expense 113,100 Gain on disposal of equipment 58,200 Decrease in accounts receivable 71,300 Decrease in accounts payable 27,100 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. Featherstone Inc.Statement of Cash Flows (partial)

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter15: Statement Of Cash Flows
Section: Chapter Questions
Problem 15E
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Determining Cash Flows from (Used for) Operating Activities

Featherstone Inc. reported the following data:

Net income $296,000
Depreciation expense 113,100
Gain on disposal of equipment 58,200
Decrease in accounts receivable 71,300
Decrease in accounts payable 27,100

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.

Featherstone Inc.Statement of Cash Flows (partial)

Cash flows from (used for) operating activities:    
Net income
    
Adjustments to reconcile net income to net cash flows from (used for) operating activities:    
Depreciation expense
    
Gain on disposal of equipment
    
Changes in current operating assets and liabilities:    
Decrease in accounts receivable
    
Decrease in accounts payable
    
Net cash flows from operating activities    
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