Question: What are the answers for the two blank boxes? Determining Cash Flows from (Used for) Operating Activities Yeoman Inc. reported the following data: Net income

What are the answers for the two blank boxes?

What are the answers for the two blank boxes? Determining Cash Flows

Determining Cash Flows from (Used for) Operating Activities Yeoman Inc. reported the following data: Net income $419,200 Depreciation expense 69,100 Loss on disposal of equipment 39,800 Increase in accounts receivable 25,700 Increase in accounts payable 11,100 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, any negative adjustments. Yeoman Inc. Statement of Cash Flows (partial) Cash flows from (used for) operating activities: Net income $419,200 V Adjustments to reconcile net income to net cash flows from (used for) operating activities: Depreciation expense 69,100 Loss on disposal of equipment 39,800 Changes in current operating assets and liabilities: Increase in accounts receivable X Increase in accounts payable 11,100 Net cash flows from operating activities $ Feedback

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!