In preparing the operating activities section of the statement of cash flows by the indirect method, gains are added to net income.
Answer the following statement true (T) or false (F)
False
Noncash expenses and losses are added to and gains are subtracted from net income to determine net cash flow from operating activities.
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A machine with a cost of $139,000 and accumulated depreciation of $89,500 is sold for $59,000 cash. The amount that should be reported in the operating activities section reported under the direct method is:
A. $0. B. $9500. C. $49,500. D. $30,500. E. $59,000.
Direct costs are so named because they can be assigned directly to a work package and activity.
Answer the following statement true (T) or false (F)
In the first footnote to a source, include the author name, the full title, complete publishing information, and ________________
a. a picture of the cover page b. the pages referred to c. a copy of the cited quotation or paraphrase d. no other information
A building with a cost of $153,000 and accumulated depreciation of $42,000 was sold for a $11,000 gain. When using the indirect method, the cash generated from this investing activity was $121,000
Indicate whether the statement is true or false