Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. cash flows from operating activitiesindirect metho

Cash Flows from Operating ActivitiesIndirect Method Staley Inc. reported the following data: Net income $462,500...

60.1K

Verified Solution

Question

Accounting

Cash Flows from Operating ActivitiesIndirect Method

Staley Inc. reported the following data:

Net income $462,500

Depreciation expense 56,900

Loss on disposal of equipment 32,200

Increase in accounts receivable 29,000

Increase in accounts payable 13,000

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.

Staley Inc. Statement of Cash Flows (partial)

Cash flows from operating activities:
Net Income 462,500
Adjustments to reconcile net income to net cash flow from operating activities:
Depreciation
Loss on disposal of equipment 32,200
Changes in current operating assets and liabilities:
Increase in accounts receivable -29,000
Increase in accounts payable 13,000
Net cash flow from operating activities $

I am looking for help to find the depreciation and the net cash flow from operating activities.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Physics
1.2K views

A parallel plate air capacitor with no dielectric between the plates is connected to a constant...

Mechanical Engineering
1.2K views

Consider a vertical slider on a rod where the potential energy of the slider at height,...

Physics
1.2K views

In a simple harmonic motion with force F kx and amplitude A oscillating about a...

Basic Math
1.2K views

Name the quadrant in which angle 0 must lie for the following to be true...

Basic Math
1.2K views

Which would be the best way to combine the following sentencesusing an adjective clause?Mr. Kold's...

Accounting
1.2K views

A lease agreement that qualifies as a finance lease calls for annual lease payments of...

Accounting
1.2K views

Journalize the following transactions for Stillwater Spa Consultants: Oct. 1 Sold services for $200,000 to...

Accounting
1.2K views

please answer all budgeted antes ieliran sceount) Required: Required: 1....

Accounting
1.2K views

Information for two companies follows skittles company sales 6,485,950 contribution margins 4,585,950 fixed costs 3,519,450...

Accounting
1.2K views

Find net cash operating activities of how to get $29,000 as an answer

Accounting
1.2K views

Check my work Frank Moran manages the cutting department of Greene Timber Company. He purchased...

Accounting
1.2K views

Dorsey Company manufactures three products from a common input in a joint processing operation. Joint...