Ripley Corporation’s accumulated depreciation—furniture account increased by $11,575, while $2,500 of patent amortization was recognized between...
Ripley Corporation’s accumulated depreciation—furniture account increased by $11,575, while $2,500 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 $3,400 from the sale of land.
Reconcile a net income of $224,500 to net cash flow from operating activities. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries.
Homework Answers
| Net income | 224500 | |
| Adjustments to reconcile net income to net cash flow from operating activities: | ||
| Depreciation | 11575 | |
| Amortization of patents | 2500 | |
| Loss on sale of Land | 3400 | |
| Net cash flow from operating activities | 241975 | |
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Ripley Corporation’s accumulated depreciation—furniture account
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escriptions |Réconciliation of Net Income nt increased by $7,070, while $2,520 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 s. Refer to the Amount Descriptons list provided for the exact wording of Reconcile á net income of $109,410 to net ction Reconciliation of Net Income Instructions Amount Descriptions by $7,070, while $2 gible assets during Amount Descriptions Amortization...
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