Detter Corporation's balance sheet and income statement appear below:

Cash dividends were $8. The company sold equipment for $20 that was originally purchased for $11 and that had accumulated depreciation of $3.
Required:
Using the direct method, determine the net cash provided by (used by) operating activities.

Question

Detter Corporation's balance sheet and income statement appear below:  
  
Cash dividends were $8. The company sold equipment for $20 that was originally purchased for $11 and that had accumulated depreciation of $3.
Required:
Using the direct method, determine the net cash provided by (used by) operating activities.

Quizplus · Accepted Answer

The Answer of Detter Corporation's balance sheet and income statement appear below:  
  
Cash dividends were $8. The company sold equipment for $20 that was originally purchased for $11 and that had accumulated depreciation of $3.
Required:
Using the direct method, determine the net cash provided by (used by) operating activities.

Detter Corporation's Balance Sheet and Income Statement Appear Below