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can someone please double check this? i think i got some numbers wrong Kennedy, Inc. reported the following data: Net income. $170,158 Depreciation expense 15,993
can someone please double check this? i think i got some numbers wrong
Kennedy, Inc. reported the following data: Net income. $170,158 Depreciation expense 15,993 Loss on disposal of equipment (8,992) Gain on sale of building 18,477 Increase in accounts receivable 7,675 Decrease in accounts payable (3,327) 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: 170,158 Net income Adjustments to reconcile net income to net cash flow from operating activities: 15.995 Depreciation expense 8.992 Loss on disposal of equipment 18.477 Gain on sale of building Loss on disposal of equipment (8,992) Gain on sale of building 18,477 Increase in accounts receivable 7,675 Decrease in accounts payable (3,327) 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: Net Income 170,158 Adjustments to reconcile net income to net cash flow from operating activities: Depreciation expense 15.993 Loss on disposal of equipment -8.992 Gain on sale of building 18.477 Changes in current operating assets and liabilities: 7675 Increase in accounts receivable -3.327 Decrease in accounts payable Net cash flow from operating activities 199.984 Step by Step Solution
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