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Business
AccountingManagerial Accounting: The Cornerstone of Business Decision-Making7th Edition

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Chapter 14, Problem 11MCQ
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Managerial Accounting: The Corners...

7th Edition
Maryanne M. Mowen + 2 others
ISBN: 9781337115773

Solutions

Chapter
Section
Problem 1DQ
Problem 2DQ
Problem 3DQ
Problem 4DQ
Problem 5DQ
Problem 6DQ
Problem 7DQ
Problem 8DQ
Problem 9DQ
Problem 10DQ
Problem 11DQ
Problem 12DQ
Problem 13DQ
Problem 14DQ
Problem 1MCQ
Problem 2MCQ
Problem 3MCQ
Problem 4MCQ
Problem 5MCQ
Problem 6MCQ
Problem 7MCQ
Problem 8MCQ
Problem 9MCQ
Problem 10MCQ
Problem 11MCQ
Problem 12MCQ
Problem 13MCQ
Problem 14MCQ
Problem 15MCQ
Problem 16MCQ
Problem 17BEA
Problem 18BEA
Problem 19BEA
Problem 20BEA
Problem 21BEA
Problem 22BEA
Problem 23BEA
Problem 24BEA
Problem 25BEB
Problem 26BEB
Problem 27BEB
Problem 28BEB
Problem 29BEB
Problem 30BEB
Problem 31BEB
Problem 32BEB
Problem 33E
Problem 34E
Problem 35E
Problem 36E
Problem 37E
Problem 38E
Problem 39E
Problem 40E
Problem 41E
Problem 42E
Problem 43E
Problem 44P
Problem 45P
Problem 46P
Problem 47P
Problem 48P
Problem 49P
Problem 50P
Problem 51P
Problem 52P
Problem 53P
Problem 54P
Problem 55P
Problem 56P
Problem 57P
Problem 58C
BuyFindarrow_forward

Managerial Accounting: The Corners...

7th Edition
Maryanne M. Mowen + 2 others
ISBN: 9781337115773
Textbook Problem
1 views

The gain on sale of equipment is deducted from net income to arrive at operating cash flows because

  1. a. the sale of long-term assets is an operating activity.
  2. b. the gain reveals the total cash received.
  3. c. all of the cash received from the sale is reported in the operating section.
  4. d. All of these.
  5. e. None of these.

To determine

Identify the reason for which the gain on sale of equipment is deducted from the net income to obtain the operating cash flows.

Explanation

Operating Cash Flow:

The cash flow obtained from the operational and profit generating activities in a firm are termed as the operating cash flow. The operating cash flows increase or decrease the current assets and current liabilities of a firm.

a.

The sale of long-term assets is not an operating activity. It is an investing activity. The gain on sale of equipment is hence not deducted from the net income to arrive at operating cash flows. Therefore, a is not the correct option.

b.

The gain on the sale of equipment does not reveal the total cash received...

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Chapter 14 Solutions

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Ch-14 P-1DQCh-14 P-2DQCh-14 P-3DQCh-14 P-4DQCh-14 P-5DQCh-14 P-6DQCh-14 P-7DQCh-14 P-8DQCh-14 P-9DQCh-14 P-10DQ
Ch-14 P-11DQCh-14 P-12DQCh-14 P-13DQCh-14 P-14DQCh-14 P-1MCQCh-14 P-2MCQCh-14 P-3MCQCh-14 P-4MCQCh-14 P-5MCQCh-14 P-6MCQCh-14 P-7MCQCh-14 P-8MCQCh-14 P-9MCQCh-14 P-10MCQCh-14 P-11MCQCh-14 P-12MCQCh-14 P-13MCQCh-14 P-14MCQCh-14 P-15MCQCh-14 P-16MCQCh-14 P-17BEACh-14 P-18BEACh-14 P-19BEACh-14 P-20BEACh-14 P-21BEACh-14 P-22BEACh-14 P-23BEACh-14 P-24BEACh-14 P-25BEBCh-14 P-26BEBCh-14 P-27BEBCh-14 P-28BEBCh-14 P-29BEBCh-14 P-30BEBCh-14 P-31BEBCh-14 P-32BEBCh-14 P-33ECh-14 P-34ECh-14 P-35ECh-14 P-36ECh-14 P-37ECh-14 P-38ECh-14 P-39ECh-14 P-40ECh-14 P-41ECh-14 P-42ECh-14 P-43ECh-14 P-44PCh-14 P-45PCh-14 P-46PCh-14 P-47PCh-14 P-48PCh-14 P-49PCh-14 P-50PCh-14 P-51PCh-14 P-52PCh-14 P-53PCh-14 P-54PCh-14 P-55PCh-14 P-56PCh-14 P-57PCh-14 P-58C

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