Question
Congress Corporation's accumulated depreciation-equipment account increased by $6,800, while $4,400 of patent amortization was recognized between balance sheet dates. There were no purchases or
Congress Corporation's accumulated depreciation-equipment account increased by $6,800, while $4,400 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 $5,200 from the sale of investments. Reconcile a net income of $77,600 to net cash flows from operating activities.
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Accounting
Authors: Carl S. Warren, Christine Jonick, Jennifer Schneider
28th Edition
1337902683, 978-1337902687
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