On the statement of cash flows prepared using the indirect method, a $7,500 gain on the sale of fixed assets would be O a. deducted from dividends declared in converting the dividends declared to the cash flows from financing activities related to dividends O b. deducted from net income in converting the net income reported on the income statement to cash flows from operating activities O C. added to net income in converting the net income reported on the income statement to cash flows from operating activities O d. added to dividends declared in converting the dividends declared to the cash flows from financing activities related to dividends
On the statement of cash flows prepared using the indirect method, a $7,500 gain on the sale of fixed assets would be O a. deducted from dividends declared in converting the dividends declared to the cash flows from financing activities related to dividends O b. deducted from net income in converting the net income reported on the income statement to cash flows from operating activities O C. added to net income in converting the net income reported on the income statement to cash flows from operating activities O d. added to dividends declared in converting the dividends declared to the cash flows from financing activities related to dividends
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 7E
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