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Accounting please helllp


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Adjustments to Net Income—Indirect Method

Omni Corporation's accumulated depreciation—furniture account increased by $9,900, while $6,400 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 $7,600 from the sale of land.

Reconcile a net income of $112,800 to net cash flow from operating activities.

Nov 20th, 2017

Cash flow from/(used in) operating activities.

                                                                     $

Net Profit as per Income Statement        112,800

Adjustments:

Add: Depreciation on Furniture                9,900

        Amortization on Patent                     6,400

Less: Gain on sale of Land                      7,600

                                                             ------------

Cash Flows from operating Activities   121,500

                                                            .................

Mar 25th, 2015

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