16.3 #3 Course Schedule - Homepage MNA2Cengage v2 cengagenow con intake ssignmen

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16.3

#3

Course Schedule - Homepage MNA2Cengage v2 cengagenow con intake ssignmen takeAssignmen Main doi voker-assignments& takeAssignmentSessionLoca or-assignment t ? E C Chegg Study | Guide .., CengageNOVv2 × |?Outlook.com-Micrc + v ? ? ? ? ? ? ? ? Ch 16-2 Practice Exercises Show Me HowCalculator Print ltem eBook 1. PE.16-01A Adjustments to Net IncomeIndrect Method Congress Corporation's accumulated depreciation-equipment account increased by $6,200, while $4,000 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 gain of $4,700 from the sale of land 2. PE.16-01B 3. PE.16-02.ALGO Reconcile a net income of $70,200 to net cash fiow from operating activities. 4. PE. 16-03.ALGO 5. PE.16-04.ALGO 6. PE.16-05.ALGO Check My Work 2 more Check My Work uses remalning Previous Next Progress: 3/6 items Assignment Score: 0.0% Email Instructor Save and Exit Submit Assignment for Grading 12:38 AM Type here to search 4/7/2018 21

Explanation / Answer

Answer : $75,700

Explanation :

Reconciliation of net income to net cash flow from operting activities

Particulars Amount ($) Net Income $70,200 Add: Depreciation expenses - Equipment $6,200 Add: Patent amortization expense $4,000 Less : Gain from sale of land ($4,700) Net cash flow from operting activities $75,700

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