Gains= 900lossess = -1200prepare the operating activities section of the statement of cash flows You are given the following information extracted from the comparativeStatement of Financial Position and Income Statement.2019(18000)16000190002020Accumulated Depreciation - EquipmentAccounts ReceivableAccounts Payable(35000)40005000Net Income = 140000 OPERATING ACTIVITIESNet IncomeAdjustment for depreciationAdjustment for current assetsAdjustment for current liabilitiesAdjustment for gains on sale of non-current assets

Net Income = $144000 Adjustments made to net income to get Operating Activities.

Answered: OPERATING ACTIVITIES Net Income…

OPERATING ACTIVITIES Net Income Adjustment for depreciation Adjustment for current assets Adjustment for current liabilities Adjustment for gains on sale of non-current assets

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter11: Depreciation, Depletion, Impairment, And Disposal

Section: Chapter Questions

Problem 3MC: Using the sum-of-the-years-digits method, how much depreciation expense should Vorst record in 2020...

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