Samuel company’s accumulated depreciation - equipment increased by $6,000, while patents decreased by $2,200 between balance sheet dates. There were no purchases or sales of depreciable or intangible assists during the year. In addition, the income statement showed a loss of $3,200 from sale of investment la l. Assume no changes in non cash current assists and liabilities. Reconcile a net income of 92,000 to net cash flow from operating activities.
Samuel company’s accumulated depreciation - equipment increased by $6,000, while patents decreased by $2,200 between balance sheet dates. There were no purchases or sales of depreciable or intangible assists during the year. In addition, the income statement showed a loss of $3,200 from sale of investment la l. Assume no changes in non cash current assists and liabilities. Reconcile a net income of 92,000 to net cash flow 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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Samuel company’s accumulated depreciation - equipment increased by $6,000, while patents decreased by $2,200 between balance sheet dates. There were no purchases or sales of depreciable or intangible assists during the year. In addition, the income statement showed a loss of $3,200 from sale of investment la l. Assume no changes in non cash current assists and liabilities.
Reconcile a net income of 92,000 to net cash flow from operating activities.
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Step 1
Cash flows from operating activities: It is a section of Statement of cash flow that explains the sources and uses of cash from business activities.
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