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)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Determining
Featherstone Inc. reported the following data:
| Net income | $296,000 |
| 113,100 | |
| Gain on disposal of equipment | 58,200 |
| Decrease in |
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
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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