Adjustments to Net Income—Indirect Method Omni Corporation's accumulated depreciation—equipment account increased by $8,800, while $5,700 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 $6,700 from the sale of investments. Reconcile a net income of $99,600 to net cash flows from operating activities.
Adjustments to Net Income—Indirect Method Omni Corporation's accumulated depreciation—equipment account increased by $8,800, while $5,700 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 $6,700 from the sale of investments. Reconcile a net income of $99,600 to net cash flows from operating activities.
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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Adjustments to Net Income—Indirect Method
Omni Corporation's
Reconcile a net income of $99,600 to net cash flows from operating activities.
$fill in the blank 1
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