Crane Company reported net income of $470000 for the year ended 12/31/21. Included in the computation of net income were: depreciation expense, $59000; amortization of a patent, $31000; income from an investment in common stock of Blossom Company, accounted for under the equity method, $47000; and amortization of a bond discount, $11000. Crane also paid an $79000 dividend during the year. The net cash provided by operating activities would be reported at O $445000. $414000. $335000. O $524000.

Crane Company reported net income of $470000 for the year ended 12/31/21. Included in the computation of net income were: depreciation expense, $59000; amortization of a patent, $31000; income from an investment in common stock of Blossom Company, accounted for under the equity method, $47000; and amortization of a bond discount, $11000. Crane also paid an $79000 dividend during the year. The net cash provided by operating activities would be reported at O $445000. $414000. $335000. O $524000.

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

Chapter13: Investments And Long-term Receivables

Section: Chapter Questions

Problem 2MC: During 2021, Anthony Company purchased debt securities as a long-term investment and classified them...

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The "other income" section of A Company's Statement of Comprehensive Income contains P5,000 in interest income, P15,000 equity in B Co. earnings, and P25,000 gain on sale of available-for-sale securities. Assuming the sale of the securities increased the current portion of income tax expense by P10,000, determine the amount of A's reclassification adjustment to other comprehensive income.
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