Statement of Cash Flows

Problem-15: Statement of Cash Flows

The current sections of Scoggin Inc.'s balance sheets at December 31, 2019 and 2020 are presented here. Scoggin's net income for 2019 was $153,000. Depreciation expense was $24,000.

Instructions

Prepare the net cash provided by operating activities section of the company's statement of cash flows for the year ended December 31, 2020, using the indirect method.

Solution

Scoggin Inc
Statement of Cash Flows - Indirect Method
For the Year Ended December 31, 2020

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