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Adjustments to Net Income-Indirect Method Kingston Corporation's accumulated depreciation-equipment account increased by $6,500, while $4,200 of patent amortization was recognized between balance sheet dates. There were no purchases or sales of depreciable or intangible assets during the year. In addition, the income statement showed a loss of $4,900 from the sale of land Reconcile a net income of $73,300 to net cash flow from operating activities

Adjustments to Net Income-Indirect Method Kingston Corporation's accumulated depreciation-equipment account increased by $6,500, while $4,200 of patent amortization was recognized between balance sheet dates. There were no purchases or sales of depreciable or intangible assets during the year. In addition, the income statement showed a loss of $4,900 from the sale of land Reconcile a net income of $73,300 to net cash flow from operating activities

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter15: Statement Of Cash Flows
Section: Chapter Questions
Problem 2BE
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How do I solve this problem? I attempted it and got 79,100 for my final answer but I'm not sure if I did the steps correctly? Can you please help, thanks!

Adjustments to Net Income-Indirect Method Kingston Corporation's accumulated depreciation-equipment account increased by $6,500, while $4,200 of patent amortization was recognized between balance sheet dates. There were no purchases or sales of depreciable or intangible assets during the year. In addition, the income statement showed a loss of $4,900 from the sale of land Reconcile a net income of $73,300 to net cash flow from operating activities
Transcribed Image Text:Adjustments to Net Income-Indirect Method Kingston Corporation's accumulated depreciation-equipment account increased by $6,500, while $4,200 of patent amortization was recognized between balance sheet dates. There were no purchases or sales of depreciable or intangible assets during the year. In addition, the income statement showed a loss of $4,900 from the sale of land Reconcile a net income of $73,300 to net cash flow from operating activities
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