ladycarnal1802
Feb 9, 2010, 11:26 PM
Twin House Inc. reported net income of $753,000 for the current year-ended December 31. 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 33000
Decrease in trading securities 50000
Increase in available-for-sale securities 62,000
Incrase in accounts payable 70,000
Decrease in taxes payable 15000
Dividend paid 200,000
Dividend received 27000
What should Twin House report as net cash provided by OPERATING activities on the statement of cash flows, assuming that twin house classifies the proceeds from the sale of the trading securities as an OPERATING CASH OUTFLOW
These are the four options for answers
1,119,000
1,092,000
1,030,000
892,000
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 33000
Decrease in trading securities 50000
Increase in available-for-sale securities 62,000
Incrase in accounts payable 70,000
Decrease in taxes payable 15000
Dividend paid 200,000
Dividend received 27000
What should Twin House report as net cash provided by OPERATING activities on the statement of cash flows, assuming that twin house classifies the proceeds from the sale of the trading securities as an OPERATING CASH OUTFLOW
These are the four options for answers
1,119,000
1,092,000
1,030,000
892,000