Towson Company prepared the tabulation below at December 31, 2017 Net Income $201,000 Adjustments to reconcile net
Question:
Towson Company prepared the tabulation below at December 31, 2017
Net Income $201,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation expense 75,000
Increase in accrued liabilities 18,000rn
Amortization of patent 21,000
Increase in accounts payable (42,000)
Decrease in interest receivable 30,000
Decrease in prepaid expenses 9,000
Decrease in account payable (15,000)
96,000
Net cash provided (used) by operating activities 297,000
Compute net cash provided by operating activities using the Indirect method assuming that net income is $201,000. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)rnrn
Intermediate Accounting
ISBN: 978-0078025839
9th edition
Authors: J. David Spiceland, James Sepe , Mark Nelson , Wayne Thomas