Pearl Corporation’s accumulated depreciation—furniture account increased by $9,3

Question

Pearl Corporation’s accumulated depreciation—furniture account increased by $9,310, while $3,570 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 $4,490 from the sale of land.

Reconcile a net income of $138,100 to net cash flow from operating activities

The section of the statement of cash flows that reports the cash transactions affecting the determination of net income.

. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries.

In CengageNOW, an Amount Description is a text entry other than an Account that has an amount associated with it.

Net cash flow from operating activities

Reconcile a net income of $138,100 to net cash flow from operating activities

The section of the statement of cash flows that reports the cash transactions affecting the determination of net income.

. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries.

Question not attempted.

1

Net income

2

Adjustments to reconcile net income to net cash flow from operating activities:

3

4

5

6

Amount Descriptions

In CengageNOW, an Amount Description is a text entry other than an Account that has an amount associated with it.

Amortization of patents Decrease in accounts receivable Depreciation Gain from sale of land Increase in accounts receivable Loss from sale of land

Net cash flow from operating activities

Reconcile a net income of $138,100 to net cash flow from operating activities

The section of the statement of cash flows that reports the cash transactions affecting the determination of net income.

. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries.

Question not attempted.

1

Net income

2

Adjustments to reconcile net income to net cash flow from operating activities:

3

4

5

6

Explanation / Answer

Solution :

Net income

138100

Adjustments to reconcile net income to net cash flow from operating activities:

Add : depreciation

9310

Add : amortization

3570

add : Loss on sale of land

4490

net cash flow from operating activities

155470

Net income

138100

Adjustments to reconcile net income to net cash flow from operating activities:

Add : depreciation

9310

Add : amortization

3570

add : Loss on sale of land

4490

net cash flow from operating activities

155470

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