Reconcile Omni net income to net cash flow

Assignment Help Accounting Basics
Reference no: EM132691695

Problem - Omni Corporation's accumulated depreciation increased by $12,000, while $3,400 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 $4,100 from the sale of land. Reconcile Omni's net income of $50,000 to net cash flow from operating activities.

Reference no: EM132691695

Questions Cloud

What is the framework for evaluating alternative site : What is the framework for evaluating alternative site locations? What are the qualitative and quantitative factors involved in site selection?
Determine the amount of cash received from customers : The accounts receivable balance declined $8,000 over the year. Determine the amount of cash received from customers
Calculate the sample standard deviation : Monthly sales for tissues in the northwest region are (in thousands)
Describe organizational approaches to product development : Describe four organizational approaches to product development. Which of these is generally thought to be best?
Reconcile Omni net income to net cash flow : The income statement showed a gain of $4,100 from the sale of land. Reconcile Omni's net income of $50,000 to net cash flow from operating activities
What are the mean and variance of the time to failure : What are the mean and variance of the time to failure? What is the reliability at 30,000 hours?
Unit 01 Contemporary Issues in Education: Theory, Policy : Unit 01 Contemporary Issues in Education: Theory, Policy and Practice Assignment Help and Solution, OTHM Level 7 Diploma In Education Management And Leadership
What are the objectives of the marketing plan : Marketing plans describe the current situation for the product, service, or brand, and the plan for the future. What are the objectives of the marketing plan?
Create new product development opportunity : List the 6 defined items to create New Product Development opportunity. Explain in brief 1 of the 6 elements

Reviews

Write a Review

Accounting Basics Questions & Answers

  Hernandez has not logged since 2001

Hernandez has not logged since 2001. If Hernandez logged and sold 900,000 board feet of timber in 2012, when the timber cruise (appraiser) estimated 5,000,000 board feet, determine the cost of timber sold related to depletion for 2012.

  Archer electronics company actual sales and purchases

Archer Electronics Company's actual sales and purchases for April and May are shown here, along with forecasted sales and purchases for June through September.

  Total nursing costs assigned to each patient category

Activity-Based Product Costing Suppose that a surgical ward has gathered the following information for four nursing activities and two types of patients.

  Snider corporation must issue its quarterly

What financial information, as a minimum, must Snider Corporation disclose to its stockholders in its quarterly reports?(CMA adapted)

  Calculate the breakeven point per year

Fixed costs are estimated at $24,000 per year and the cost of making each shelf is calculated as follows: Calculate the breakeven point per year (in units)

  What is schmidt taxable income

During the current year, schmidt corporation has operating income of $75,000, and a net capital loss of $25,000. What is schmidt's taxable income

  Relationship between the expense recognition and accounting

Describe the relationship between the expense recognition (matching) principle and accounting for long-lived assets.

  What is the accounting rate of return

Net present value: The Cyclone Golf Resorts is redoing its golf course at a cost of $2,744,320. It expects to generate cash flows of $1, 223,445, $2,007,812, and $3,147,890 over the next three years. If the appropriate discount rate for the firm is 1..

  What are the ethical implications of rossi

The Mobile Home Manufacturing Company is audited by Rossi and Montgomery, CPAs. What are ethical implications of Rossi and Montgomery's accepting engagement

  Review case of the embraer of brazil

Embraer of Brazil. Embraer of Brazil is one of the two leading global manufacturers of regional jets (Bombardier of Canada is the other).

  A taxpayer is considering buying a fully taxable corporate

a taxpayer is considering buying a fully taxable corporate bond. the bond has a remaining maturity of 5 years promises

  Prepare a journalize the bond issuance

On the first day of the fiscal year, a company issues a $5,500,000, 6%, 6-year bond that pays semiannual interest of $165,000 ($5,500,000 × 6% × ½)

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd