Statement of Cash Flows. CPA Exam Simulation

In this example, I work a statement of cash flows in a form of CPA exam simulation
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[@carenasemerel1953]

Thank you so much, it was a bit challenging but I’ve understand every calculated transactions

[@AccountingLectures]

Glad it helped! Please visit my website for more: www.farhatlectures.com

[@elClubdelas7Cifras]

minute 10:54 note: When you sell an asset, its accumulated depreciation in the balance sheet is gone too. you get rid of it

[@elClubdelas7Cifras]

17:14, I was expecting you to use the net book value when subtracting the value of the equipment sold (15000). However you subtract the cost value. From what I know: The balance of the PP&E account is remeasured every reporting period, and, after accounting for historical cost and depreciation, is called the book value. In that case, equipment account shouldnt be balanced with 9000 instead of 15000 ? thank you

[@user-sm1fh1iy4p]

Well one thing i understand is the only way to master cash flows is practice

[@mesigemechu8470]

Hi Prof., is there any video on Branch Accounting that you have already lectured?!🤔

[@AccountingLectures]

I don't at this time; Please visit my website for more: www.farhatlectures.com

[@mesigemechu8470]

@@AccountingLectures Thank you Prof. 4 ur kind response❤

[@sowmyasriram9947]

How did $3500 come?

[@user-kw7ym5jw5c]

Regarding amortization, i came across a CFS Question that,instead of adding back the amortization shown above, it subtracted the amortization cost of debt securities-trading. I was wondering what made this amortization different compared to the usual rule of adding it back to NI?

[@mjlove1463]

Aren’t you supposed to deduct income taxes paid and interest paid from operating cash flow if it’s indirect method?

[@user-sm1fh1iy4p]

Not necessary because net income already is carrying that effect