Zephre Company reported net income for the year of $56,000 Depreciation expense for the year was $12,000 During the year, accounts receivable increased by $4,000, inventory decreased by $6,000, accounts payable increased by $3,000, and accrued expenses payable decreased by $2,000 Reconcile the amou...

Net income 56000 Adjustments to reconcile net income to net ...

Zephre Company reported net income for the year of $56,000. Depreciation expense for the year was $12,000.

Question:

Zephre Company reported net income for the year of $56,000. Depreciation expense for the year was $12,000. During the year, increased by $4,000, inventory decreased by
$6,000, increased by $3,000, and accrued expenses payable decreased by $2,000. Reconcile the amount of net income to the amount of cash provided by or used for 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...