
Analysis Case 21–5
Smudged ink; find missing amounts
• LO21–3, LO21–4
“Be careful with that coffee!” Your roommate is staring in disbelief at the papers in front of her. “This was my contribution to our team project,” she moaned. “When you spilled your coffee, it splashed on this page. Now I can’t recognize some of these numbers, and Craig has my source documents.”
Knowing how important this afternoon’s presentation is to your roommate, you’re eager to see what can be done. “Let me see that,” you offer. “I think we can figure this out.” The statement of
Required:
1. Determine the missing amounts.
2. Reconstruct the reconciliation of net income to cash flows from operating activities (operating cash flows using the indirect method).

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Chapter 21 Solutions
INTERMEDIATE ACCOUNTING (LL) W/CONNECT
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- 4. The normal balance of an asset account is:A. CreditB. DebitC. ZeroD. It depends on the assetarrow_forwardA contingent liability should be recorded only when:A. It is possible and the amount is estimableB. It is probable and the amount is estimableC. It is certain to occurD. Management decides it’s importantDont use AIarrow_forwardA contingent liability should be recorded only when:A. It is possible and the amount is estimableB. It is probable and the amount is estimableC. It is certain to occurD. Management decides it’s important need helparrow_forward
- A contingent liability should be recorded only when:A. It is possible and the amount is estimableB. It is probable and the amount is estimableC. It is certain to occurD. Management decides it’s importantarrow_forwardNo chatgpt 6. Which of the following is not an intangible asset?A. GoodwillB. PatentC. TrademarkD. Landarrow_forwardNeed help hi 6. Which of the following is not an intangible asset?A. GoodwillB. PatentC. TrademarkD. Landarrow_forward
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