Staley Inc. reported the following data: Net income $396,200 Depreciation expense 61,250 Loss on disposal of equipment 27,600 Increase in accounts receivable 9,000 Increase in accounts payable 3,350 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 out flows, cash payments, decreases in cash, or any negative adjustments.
Staley Inc. reported the following data: Net income $396,200 Depreciation expense 61,250 Loss on disposal of equipment 27,600 Increase in accounts receivable 9,000 Increase in accounts payable 3,350 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 out flows, cash payments, decreases in cash, or any negative adjustments.
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter16: Statement Of Cash Flows
Section: Chapter Questions
Problem 21E
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Staley Inc. reported the following data:
Net income | $396,200 |
61,250 | |
Loss on disposal of equipment | 27,600 |
Increase in accounts receivable | 9,000 |
Increase in accounts payable | 3,350 |
Prepare the
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