11) Under the indirect method, tax expense incurred but unpaid will not affect the statement of cash flows. (True/False)

12) Maine Company sold a plant asset during 2021. The original cost of the plant asset was $650,000 and the accumulated depreciation at date of sale was $520,000. The proceeds from the sale of the plant asset were $85,000. The effect of the sale of this asset on the operating activities section is?

13) Jersey Corporation had net income for 2021 of $3,500,000. Additional information is as follows:

Depreciation of plant assets $600,000 Amortization of intangibles 200,000 Increase in accounts receivable 52,000 Decrease in accounts payable 240,000

Jerseys net cash provided (used) by operating activities for 2021 was?