Durrand Corporation's accumulated depreciation increased by $14,848, while patents decreased by $3,349 between consecutive balance sheet dates. There were no purchases or sales of depreciable or intangible assets during the year. In addition, the income statement showed a gain of $3,791 from sale of land. The company earned a net income of $59,832. Assuming there were no changes in noncash current assets and liabilities, determine the net cash flows from operating activities under the indirect method.

Durrand Corporation's accumulated depreciation increased by $14,848, while patents decreased by $3,349 between consecutive balance sheet dates. There were no purchases or sales of depreciable or intangible assets during the year. In addition, the income statement showed a gain of $3,791 from sale of land. The company earned a net income of $59,832. Assuming there were no changes in noncash current assets and liabilities, determine the net cash flows from operating activities under the indirect method.

Name: Durrand Corporation's accumulated depreciation increased by $14,848,
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Description: Durrand Corporation's accumulated depreciation increased by $14,848, while patents decreased by $3,349 between consecutive balance sheet dates. Therewere no purchases or sales of depreciable or intangible assets during the year. In addition, the inc

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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