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A corporation uses the indirect method for preparing the statement of cash flows. A fixed asset has been sold for $21,832 representing a loss of $3,248. Determine the amount that would appear in the operating activities section of the statement of cash flows based on this transaction.

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Answer 1

In the operating activities section of the statement of cash flows, the amount related to this transaction would be the loss of $3,248 added back to the net income.

In the indirect method of preparing the statement of cash flows, the operating activities section includes adjustments to net income for non-cash items and changes in working capital. The sale of a fixed asset and the loss incurred from it are both non-cash items that need to be considered.

Since the loss from the sale of the fixed asset is $3,248, this loss is added back to the net income when calculating the operating activities section. This is because the loss is a non-cash expense and does not represent an actual outflow of cash.

Therefore, in the operating activities section of the statement of cash flows, the amount related to this transaction would be the loss of $3,248 added back to the net income. This adjustment would increase the net income by $3,248 in the operating activities section, reflecting that the loss from the sale of the fixed asset does not affect the cash generated or used by the operating activities of the corporation.

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Ans find the elements of the BEST Cover Letter for your future career.


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A cover letter is an essential part of the job application process as it allows you to introduce yourself, highlight your qualifications, and showcase your enthusiasm for the position.

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Motivation and Fit: Explain why you are motivated to work for the company and how your values and goals align with their mission and culture. Show that you have done research on the company and mention any specific projects or initiatives that interest you.

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