Kennedy, Inc. reported the following data: Net income $171,757 Depreciation expense 14,794 Loss on disposal of equipment (8,647) Gain on sale of building 20,414 Increase in accounts receivable 7,530 Decrease in accounts payable (3,630) 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, a decrease in cash, cash payments, or any negative adjustments. Kennedy, Inc. Statement of Cash Flow Cash flows from operating activities: Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and liabilities: Net cash flow from operating activities
Kennedy, Inc. reported the following data: Net income $171,757 Depreciation expense 14,794 Loss on disposal of equipment (8,647) Gain on sale of building 20,414 Increase in accounts receivable 7,530 Decrease in accounts payable (3,630) 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, a decrease in cash, cash payments, or any negative adjustments. Kennedy, Inc. Statement of Cash Flow Cash flows from operating activities: Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and liabilities: Net cash flow from operating activities
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Kennedy, Inc. reported the following data:
| Net income | $171,757 |
| 14,794 | |
| Loss on disposal of equipment | (8,647) |
| Gain on sale of building | 20,414 |
| Increase in |
7,530 |
| Decrease in accounts payable | (3,630) |
Prepare the
| Kennedy, Inc. | ||
| Statement of Cash Flow | ||
| Cash flows from operating activities: | ||
| Adjustments to reconcile net income to net cash flow from operating activities: | ||
| Changes in current operating assets and liabilities: | ||
| Net cash flow from operating activities |
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