(Solution) - Choi Corporation s accumulated depreciation furniture increased -(2025 Original AI-Free Solution)

Paper Details

Choi Corporation?s accumulated depreciation?furniture increased by $7,000, while $2,600 of patents were amortized 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 $15,000 from the sale of land. Reconcile a net income of $140,000 to net cash flow from operating activities.