Question
C Cash Flows from Operating ActivitiesIndirect Method Staley Inc. reported the following data: Net income $402,500 Depreciation expense 61,100 Loss on disposal of equipment 34,000
C
Cash Flows from Operating ActivitiesIndirect Method
Staley Inc. reported the following data:
Net income | $402,500 |
Depreciation expense | 61,100 |
Loss on disposal of equipment | 34,000 |
Increase in accounts receivable | 15,700 |
Increase in accounts payable | 10,000 |
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.
Cash flows from operating activities: | ||
DepreciationIncrease in accounts receivableNet incomeNet income | $Net income | |
Adjustments to reconcile net income to net cash flow from operating activities: | ||
DepreciationIncrease in accounts payableIncrease in accounts receivableDepreciation | Depreciation | |
Increase in accounts payableIncrease in accounts receivableLoss on disposal of equipmentLoss on disposal of equipment | Loss on disposal of equipment | |
Changes in current operating assets and liabilities: | ||
DepreciationIncrease in accounts receivableLoss on disposal of equipmentIncrease in accounts receivable | Increase in accounts receivable | |
DepreciationIncrease in accounts payableLoss on disposal of equipmentIncrease in accounts payable | Increase in accounts payable | |
Net cash flow from operating activities | $fill in the blank 11 |
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