Homeworksolution-ch.22

Homeworksolution-ch.22 - EXERCISE 22-2 (10-15 minutes) (a)...

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EXERCISE 22-2 (10-15 minutes) (a) (3) Investing activity. (b) (4) Financing activity for redemption cash paid (1 or 2) operating add to income any loss and deduct from income any gain resulting from the redemption. (c) (5) Significant non-cash investing and investing activity. (d) (3) Investing activity for any cash proceeds received from the sale, (1 or 2) operating add to income any loss and deduct from income any gain resulting from the sale. (e) (1) Operating—add to net income. (f) (6) Significant non-cash investing activity. (1 or 2) If any gain is recorded on the exchange, deduct from income in operating activities and add back any loss. (g) (4) Financing activity. (h) (1) Operating—add to net income. (i) (4) Financing activity. (j) (5) Significant non-cash investing and financing activity. (k) (1) Operating—add to net income. (l) (6) None of these options; part of Other Comprehensive Income, does not affect cash or income (m)(4) Financing activity. (n) (2) Operating—deduct from net income. (o) (1) Operating—add to net income. (p) (5) Significant non-cash investing and financing activity. (q) (4) Financing activity. (r) (6) None of these options; part of cash and cash equivalents. (s) (6) Operating activity, already reflected in the income statement so no adjustment to income is required.
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EXERCISE 22-16 Part (b) Tuit Inc. Statement of Cash Flows (Indirect Method) For the Year Ended December 31, 2009 Cash flows from operating activities Net income $17,000 Adjustments to reconcile net income to net cash provided by operating activities: Amortization expense (7) $24,000 Impairment loss, goodwill 20,000 Gain on sale of equipment (2,000) Increase in accounts receivable
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This note was uploaded on 10/18/2010 for the course BUS ACC415 taught by Professor Bibijohn during the Spring '09 term at Seneca.

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Homeworksolution-ch.22 - EXERCISE 22-2 (10-15 minutes) (a)...

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