Net Cash Flow From Operating Activities The following are accounting items taken from Tyrone Shoelaces Company's records: a. Net income, $22,700 b. Payment for purchase of land, $4,000 c. Payment for retirement of bonds, $6,000 d. Depreciation expense, $7,800 e. Receipt from issuance of common stock, $7,000 f. Patent amortization expense, $2,700 g. Increase in accounts receivable, $3,800 h. Payment of dividends, $5,000 i. Decrease in accounts payable, $2,700 Required: Prepare the operating activities section of Tyrone's statement of cash flows using the indirect method. Use a minus sign for any negative amounts. TYRONE SHOELACES COMPANY

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter5: The Income Statement And The Statement Of Cash Flows
Section: Chapter Questions
Problem 9E: Net Cash Flow from Operating Activities The following are accounting items taken from Tyrone...
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Net Cash Flow From Operating Activities
The following are accounting items taken from Tyrone Shoelaces Company's records:
a. Net income, $22,700
b. Payment for purchase of land, $4,000
c. Payment for retirement of bonds, $6,000
d. Depreciation expense, $7,800
e. Receipt from issuance of common stock, $7,000
f. Patent amortization expense, $2,700
g. Increase in accounts receivable, $3,800
h. Payment of dividends, $5,000
i. Decrease in accounts payable, $2,700
Required:
Prepare the operating activities section of Tyrone's statement of cash flows using the indirect method. Use a minus sign for any negative amounts.
TYRONE SHOELACES COMPANY
Statement of Cash Flows (Partial)
For Year Ended December 31, Current Year
Operating Activities
Adjustments for differences between income flows and cash flows from operating activities:
Transcribed Image Text:Net Cash Flow From Operating Activities The following are accounting items taken from Tyrone Shoelaces Company's records: a. Net income, $22,700 b. Payment for purchase of land, $4,000 c. Payment for retirement of bonds, $6,000 d. Depreciation expense, $7,800 e. Receipt from issuance of common stock, $7,000 f. Patent amortization expense, $2,700 g. Increase in accounts receivable, $3,800 h. Payment of dividends, $5,000 i. Decrease in accounts payable, $2,700 Required: Prepare the operating activities section of Tyrone's statement of cash flows using the indirect method. Use a minus sign for any negative amounts. TYRONE SHOELACES COMPANY Statement of Cash Flows (Partial) For Year Ended December 31, Current Year Operating Activities Adjustments for differences between income flows and cash flows from operating activities:
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