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Oliga [24]
2 years ago
14

If a gain of $7,600 results from selling (for cash) office equipment having a book value of $55,100, the amount reported in the

Cash Flows from (used for) Operating Activities section of the statement of cash flows using the indirect method is
Business
1 answer:
Alisiya [41]2 years ago
3 0

The amount reported in the Cash Flows from (used for) Operating Activities section of the statement of cash flows using the indirect method is $7,600.

<h3>Cash flow from operating activities sections:</h3>

Based on the information given the amount that will be reported in the Cash Flows from (used for) Operating Activities section of the statement of cash flows using the indirect method is the gain amount of $7,600.

This  gain is the gain from selling office equipment and this amount must be deducted from net income in the operating activities section of the statement of cash flows.

The reason why we have to deduct the $7,600 is because under accrual basis of accounting  the amount represent a noncash addition to net income.

Inconclusion the amount reported in the Cash Flows from (used for) Operating Activities section of the statement of cash flows using the indirect method is $7,600.

Learn more about cash flow from operating activities sections here:brainly.com/question/25530656

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Phoenix [80]

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Explanation:

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An ethnocentric person would relate to people from other cultures the same way they relate to people from their culture because they believe the way their culture does things is the best way.

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4 0
3 years ago
What is a value that can be used to ensure that hashed plaintext will not consistently result in the same digest?
ch4aika [34]
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3 years ago
A company's board of directors votes to declare a cash dividend of $1.65 per share of common stock. The company has 33,000 share
umka21 [38]

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E) $45,375

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There is a difference between issued and outstanding shares of 500 shares, this may be because these shares are currently held by the company itself and thus dividends are payable only on outstanding shares

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