Reporting Net Cash on a Statement of Cash Flows
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Twin House Inc, reported net income of $753,000 for the year-ended December 31, 20X8. Twin House's financial statements reflected the following information:
Depreciation expense $150,000
Gain on sale of trading securities 6,000
Goodwill impairment 75,000
Decrease in accounts receivable 48,000
Increase in inventory 33,000
Decrease in trading securities 50,000
Increase in available-for-sale securities 62,000
Increase in accounts payable 70,000
Decrease in taxes payable 15,000
Dividend paid 200,000
Dividend received 27,000
What should Twin House report as net cash provided by operating activities on is 20X8 statement of cash flows?
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Solution Summary
The following posting involves a problem with financial statements. This response determines the amount of net cash provided by operating activities a company will report on their statement of cash flows.
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Net cash provided by operating activities
Net income 753,000
Add
Depreciation expense $150,000
Increase in ...
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