Adjustments to Net Income-Indirect Method Kingston Corporation's accumulated depreciation-equipment account increased by $6,500, while $4,200 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 loss of $4,900 from the sale of land Reconcile a net income of $73,300 to net cash flow from operating activities

Adjustments to Net Income-Indirect Method Kingston Corporation's accumulated depreciation-equipment account increased by $6,500, while $4,200 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 loss of $4,900 from the sale of land Reconcile a net income of $73,300 to net cash flow from operating activities

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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