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. $fill in the blank 1
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. $fill in the blank 1
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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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 betweenbalance sheet dates. There were no purchases or sales ofdepreciable 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.
$fill in the blank 1
-
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