Creble Company reported net income for 2018 in the amount of $40,000. The company's financial statements...
Creble Company reported net income for 2018 in the amount of
$40,000. The company's financial statements also included the
following:
| Increase in accounts receivable | $ | 4,000 | |
| Decrease in inventory | 2,000 | ||
| Depreciation expense | 3,000 | ||
| Gain on sale of equipment | 5,000 | ||
In the statement of cash flows what is net cash provided by
operating activities under the indirect method?
Multiple Choice
-
$36,000.
-
$41,000.
-
$40,000.
-
$38,000.
Homework Answers
| Net income | 40,000 |
| Less:increase in accounts receivable | (4000) |
| Add:Decrease in inventory | 2000 |
| Add:Depreciation expense | 3000 |
| Less:Gain on sale of equipment | (5000) |
| Net cash provided by operating activities | $36,000 |
NOTE:Decrease in current liabilities is an outflow of cash and vice versa.
Decrease in current assets is an inflow of cash and vice-versa.
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