When the indirect method is used to adjust net income to net cash provided by operating activities, the first step is to\ add depreciation charges to net income\ adjust for gains/losses included in the income statement\ analyze net changes in noncash balance sheet accounts that impact net income\ subtract depreciation charges from net income\ Knowledge Check 02\ Assume the Accumulated Depreciation account had beginning and ending balances of

$600

and

$1,000

, respectively. Also, assume that the company sold equipment with accumulated depreciation of

$100

during the period. What was the amount of depreciation charges during the period?\

$300

\

$400

\

$500

\

$550

When the indirect method is used to adjust net income to net cash provided by operating activities, the first step is to add depreciation charges to net income adjust for gains/losses included in the income statement analyze net changes in noncash balance sheet accounts that impact net income subtract depreciation charges from net income Knowledge Check 02 Assume the Accumulated Depreciation account had beginning and ending balances of $600 and $1,000, respectively. Also, assume that the company sold equipment with accumulated depreciation of $100 during the period. What was the amount of depreciation charges during the period? $300 $400 $500 $550 When the indirect method is used to adjust net income to net cash provided by operating activities, the first step is to add depreciation charges to net income adjust for gains/losses included in the income statement analyze net changes in noncash balance sheet accounts that impact net income subtract depreciation charges from net income Knowledge Check 02 Assume the Accumulated Depreciation account had beginning and ending balances of $600 and $1,000, respectively. Also, assume that the company sold equipment with accumulated depreciation of $100 during the period. What was the amount of depreciation charges during the period? $300 $400 $500 $550