Bryant Company reports net income of $22,600. For the year, depreciation expense is $9,500 and the...
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Bryant Company reports net income of $22,600. For the year, depreciation expense is $9,500 and the company reports a gain of $5,600 from sale of machinery. It also had a $4,600 loss from retirement of notes. Compute cash flows from operations using the indirect method. Note: Amounts to be deducted should be indicated by a minus sign. Cash Flows from Operating Activities (Indirect) Net income Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Depreciation expense Gain on sale of machinery Loss on retirement of notes $ $ 22,000 9,600 (5.600) 4,600 31,200 Bryant Company reports net income of $22,600. For the year, depreciation expense is $9,500 and the company reports a gain of $5,600 from sale of machinery. It also had a $4,600 loss from retirement of notes. Compute cash flows from operations using the indirect method. Note: Amounts to be deducted should be indicated by a minus sign. Cash Flows from Operating Activities (Indirect) Net income Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Depreciation expense Gain on sale of machinery Loss on retirement of notes $ $ 22,000 9,600 (5.600) 4,600 31,200
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Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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