eBook

Show Me How

Question Content Area

Determining Cash Flows from (Used for) Operating Activities

Yeoman Inc. reported the following data:

Net income	$232,500
Depreciation expense	58,000
Loss on disposal of equipment	33,900
Increase in accounts receivable	25,400
Increase in accounts payable	10,300

Prepare the Cash Flows from (used for) 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.

Cash flows from (used for) operating activities:
Decrease in accounts payableDepreciation expenseGain on disposal of equipmentIncrease in accounts receivableNet income	$- Select -
Adjustments to reconcile net income to net cash flows from (used for) operating activities:
Decrease in accounts payableDepreciation expenseGain on disposal of equipmentIncrease in accounts payableIncrease in accounts receivable	- Select -
Decrease in accounts receivableGain on disposal of equipmentIncrease in accounts payableIncrease in accounts receivableLoss on disposal of equipment	- Select -
Changes in current operating assets and liabilities:
Decrease in accounts receivableDepreciation expenseGain on disposal of equipmentIncrease in accounts receivableLoss on disposal of equipment	- Select -
Decrease in accounts payableDepreciation expenseGain on disposal of equipmentIncrease in accounts payableLoss on disposal of equipment	- Select -
Net cash flows from operating activities		$fill in the blank 11