Metro Inc. reported net income of $150,000 for 20X1. Changes occurred in several balance sheet accounts during

Question:

Metro Inc. reported net income of $150,000 for 20X1. Changes occurred in several balance sheet accounts during 20X1 as follows:

Investment in Videogold Inc. stock, accounted for under the equity method ........... $5,500 increase
Premium on bonds payable ............................................................................................. 1,400 decrease
Deferred tax liability ........................................................................................................... 1,800 increase


Required:

Determine the reported net cash provided by operating activities for Metro in 20X1.

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Financial Reporting And Analysis

ISBN: 9781260247848

8th Edition

Authors: Lawrence Revsine, Daniel Collins, Bruce Johnson, Fred Mittelstaedt, Leonard Soffer

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