The Halifax Company had a net loss of $25,000 in 20X2. The following information is available: Depreciation

Question:

The Halifax Company had a net loss of $25,000 in 20X2. The following information is available:

Depreciation ………………………….. $19,000

Decrease in accounts receivable ………. 4,000

Increase in inventory ………………….. 3,000

Increase in accounts payable …………. 18,000

Increase in salaries and wages payable … 5,000

Present a schedule that reconciles net income (loss) to net cash provided by operating activities.

Accounts Payable
Accounts payable (AP) are bills to be paid as part of the normal course of business.This is a standard accounting term, one of the most common liabilities, which normally appears in the balance sheet listing of liabilities. Businesses receive... Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...