Staley Inc. reported the following data: Net income $313,900 Depreciation expense 69,600 Loss on disposal of equipment 32,700 Increase in accounts receivable 10,000 Increase in accounts payable 11,900 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, cash payments, decreases in cash, or any negative adjustments. Staley Inc. Statement of Cash Flows (partial) Cash flows from operating activities: Net income Adjustments to reconcile net income to net cash flow from operating activities: Depreciation expense Loss on disposal of equipment Changes in current operating assets and liabilities: Increase in accounts receivable Increase in accounts payable Net cash flow from operating activities

Staley Inc. reported the following data: Net income $313,900 Depreciation expense 69,600 Loss on disposal of equipment 32,700 Increase in accounts receivable 10,000 Increase in accounts payable 11,900 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, cash payments, decreases in cash, or any negative adjustments. Staley Inc. Statement of Cash Flows (partial) Cash flows from operating activities: Net income Adjustments to reconcile net income to net cash flow from operating activities: Depreciation expense Loss on disposal of equipment Changes in current operating assets and liabilities: Increase in accounts receivable Increase in accounts payable Net cash flow from operating activities

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter13: Statement Of Cash Flows

Section: Chapter Questions

Problem 20E

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