e: Practice! Cash Flows from Operating Activities-I Cash Flows from Operating Ac

Question

e: Practice! Cash Flows from Operating Activities-I Cash Flows from Operating Activities-Indirect Method Staley Inc. reported the following data: Net income Depreciation expense Loss on disposal of equipment Increase in accounts receivable Increase in accounts payable Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using t $249,200 76,100 32,800 15,600 11,500 Staley Inc. Statement of Cash Flows (partial) Cash flows from operating activities: Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and liabilities: Net cash flow from operating activities Submit Answer Try Another Verslon

Explanation / Answer

Depreciation expense and loss on disposal of assets will add back to net income . also increase in current assets will deduct from net income and increase current liabilities will add to net income

Staley Inc. Statement of cash flows (Partial) Cash flow from operating activities Net income $ 249,200 Adjustments to reconcile net income to net cash flow from operating activities Depreciation expense $    76,100 Loss on disposal of equipment $    32,800 Changes in current operating assets and liabilities Increase in accounts receivable $ (15,600) Increase in accounts payable $    11,500 Net cash flow from operating activities $ 354,000

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