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Colt1911 [192]
2 years ago
13

Based on this income statement for Company XYZ for the year ending December 31, 2014, what adjustment would need to be made to N

et Income to account for Gain or Loss in calculating cash flow from Operating Activities using the indirect method
Business
2 answers:
RoseWind [281]2 years ago
6 0

Answer:

a) Adjustment of (16,000) in the operating section.

Explanation:

While preparing the operating activities section of the cash flow statement, the net income, depreciation expense, amortization expense, loss on sale of an asset should be added and the profit on sale should be deducted

So there is the loss of $30,000 that should be added and the gain on sale should be deducted i.e. $46,000

So there is an adjustment of -$16,000 in the operating activities section

Dafna11 [192]2 years ago
4 0
<h2>A</h2>

Hope it helps you!

-miraculousfanx-

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<h3>What is a marketing strategy?</h3>

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10 months ago
Fabiola is an accountant with Rovers and Associates, a law firm in downtown Memphis. The firm maintains a checking account with
Lelu [443]

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3 years ago
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