Adjustments to Net Income-Indirect Method Ripley Corporation's accumulated depreciation-equipment account increased by $15,325 while $3,800 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 gain of $22,420 from the sale of investments. Reconcile a net income of $286,900 to net cash flow from operating activities.

Adjustments to Net Income-Indirect Method Ripley Corporation's accumulated depreciation-equipment account increased by $15,325 while $3,800 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 gain of $22,420 from the sale of investments. Reconcile a net income of $286,900 to net cash flow from operating activities.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

For the last entries I am having difficulties understanding, could I have more clarification?
Need urgent answer please. (1) Is COSO relevant for internal control? This is a full question and not any essay question. Need brief and plagirism free answer. Answer should not be too short.
Describe about the deferrals? Explain it in detail.
What is a MIS report, why is it prepared?
Methods and rules to be followed in case of reconstitution?
when should the client represantion letter be obtained?
A departure from GAAP could lead to a disclaimer of opinion. * O True False
1.General information about IAS200. 2.What means of reasonable assurance? 3.Explain ISA200 requirement
2) What do you understand by reports and proposals , kindly share different types of reports .
What are the Copies of all approved requisitions?
I need help, interim periods - accounting standards