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Kennedy, Inc., reported the following data: Net income $125,981  Depreciation expense 16,232  Loss on disposal of equipment (9,799) Gain on sale of building 20,714  Increase in accounts receivable 8,320  Decrease in accounts payable (2,162) Prepare the operating activities section of the statement of cash flows using the indirect method. Use the minus sign to indicate cash outflows, a decrease in cash, cash payments, or any negative adjustments.   Kennedy, Inc.Statement of Cash Flows Cash flows from (used for) operating activities:       $- Select -   Adjustments to reconcile net income to net cash flows from (used for) operating activities:       - Select -     - Select -     - Select -   Changes in current operating assets and liabilities:       - Select -     - Select -       $- Select -

Kennedy, Inc., reported the following data: Net income $125,981  Depreciation expense 16,232  Loss on disposal of equipment (9,799) Gain on sale of building 20,714  Increase in accounts receivable 8,320  Decrease in accounts payable (2,162) Prepare the operating activities section of the statement of cash flows using the indirect method. Use the minus sign to indicate cash outflows, a decrease in cash, cash payments, or any negative adjustments.   Kennedy, Inc.Statement of Cash Flows Cash flows from (used for) operating activities:       $- Select -   Adjustments to reconcile net income to net cash flows from (used for) operating activities:       - Select -     - Select -     - Select -   Changes in current operating assets and liabilities:       - Select -     - Select -       $- Select -

FINANCIAL ACCOUNTING
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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  1. Kennedy, Inc., reported the following data:

    Net income $125,981 
    Depreciation expense 16,232 
    Loss on disposal of equipment (9,799)
    Gain on sale of building 20,714 
    Increase in accounts receivable 8,320 
    Decrease in accounts payable (2,162)

    Prepare the operating activities section of the statement of cash flows using the indirect method. Use the minus sign to indicate cash outflows, a decrease in cash, cash payments, or any negative adjustments.

     

    Kennedy, Inc.Statement of Cash Flows
    Cash flows from (used for) operating activities:    
     
    		 $- Select -  
    Adjustments to reconcile net income to net cash flows from (used for) operating activities:    
     
    		 - Select -  
     
    		 - Select -  
     
    		 - Select -  
    Changes in current operating assets and liabilities:    
     
    		 - Select -  
     
    		 - Select -  
     
    		   $- Select -
     
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