06!II SO, TOW any shares were repurchased and where might this information be fo
ID: 2402819 • Letter: 0
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06!II SO, TOW any shares were repurchased and where might this information be found? c. Does it appear that Coke uses the cash or accrual basis of accounting? How can you tell? WalRuss Corporation's accumulated depreciation increased by $14,000, while patents decreased by $3,875 between consecutive balance sheet dates. There were no purchases or sales of depreciable or intangible assets during the year. In addition, the income statement showed a loss on sale of land of $1,950. Accounts receivable increased S6,320, inventory decreased $3,125, prepaid expenses decreased $720, and account payable increased $2,760. Reconcile a net income of $55,000 te net cash flow from operating activities. 4. 5. Match items 1-6 below with these classifications (a, b, c, and d): a. accrued asset b. unearned revenueExplanation / Answer
Walruss Corporation Cash flows from operating activities Net Income $55,000.00 Adjustments to reconcile net income to net cash flow from operating activities: Depreciation $14,000.00 Amortization $3,875.00 Loss on sale of land $1,950.00 Changes in current operating assets and liabilities Increase in accounts receivable -$6,320.00 Decrease in inventory $3,125.00 Decrease in Prepaid Expenses $720.00 Increase in accounts payable $2,760.00 Net cash flow from operating activities $75,110.00
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