Question
Staley Inc. reported the following data: Net income $398,800 Depreciation expense 50,700 Loss on disposal of equipment 25,200 Increase in accounts receivable 28,100 Increase in
Staley Inc. reported the following data:
| Net income | $398,800 |
| Depreciation expense | 50,700 |
| Loss on disposal of equipment | 25,200 |
| Increase in accounts receivable | 28,100 |
| 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 income | $- Select - | |
| Adjustments to reconcile net income to net cash flow from operating activities: | ||
| DepreciationIncrease in accounts payableIncrease in accounts receivable | - Select - | |
| Increase in accounts payableIncrease in accounts receivableLoss on disposal of equipment | - Select - | |
| Changes in current operating assets and liabilities: | ||
| DepreciationIncrease in accounts receivableLoss on disposal of equipment | - Select - | |
| DepreciationIncrease in accounts payableLoss on disposal of equipment | - Select - | |
| Net cash flow from operating activities | $fill in the blank 11 |
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Survey of Accounting
Authors: Edmonds, old, Mcnair, Tsay
2nd edition
9780077392659, 978-0-07-73417, 77392655, 0-07-734177-5, 73379557, 978-0073379555
