Try another version of this question NMZ Testing Equipment, Inc. reported the following data for 2019:
Income Statement:
Net Income $41,000
Depreciation Expense $8,000
Balance Sheet:
Increase in Accounts Receivable $8,000
Decrease in Accounts Payable $4,000
Compute NMZ Testing Equipment, Inc. net cash provided by operating activities--indirect method.
Statement of Cash Flows - Indirect Method
For Year Ending Dec. 31, 2019Description Amount Total Subcategory,Cash Flow from Operating Activities: Net Income Subcategory,Adjustments to reconcile Net Income to net cash provided by Operating Activites: Depreciation Expense Increase In Accounts Receivable Single line Decrease in Accounts Payable Single line Single line Net Cash provided by Operating Activites Single lineDouble line
Statement of Cash Flows - Indirect Method
For Year Ending Dec. 31, 2019Description Amount Total Subcategory,Cash Flow from Operating Activities: Net Income 41,000 Subcategory,Adjustments to reconcile Net Income to net cash provided by Operating Activites: Depreciation Expense 8,000 Increase In Accounts Receivable -8,000 -4,000Single line Decrease in Accounts Payable -4,000Single line Single line Net Cash provided by Operating Activites Single line37,000Double line