Express Corporation had a net income of $66,000 during 2011 During the year, the company had depreciation expense of $28,000 Accounts receivable increased by $22,000, and accounts payable increased by $10,000 Those were the companys only current assets and current liabilities Use the indirect metho...

Express Corporation Schedule of Cash Flows from Operating Activities For the Year Ende ...

Express Corporation had a net income of $66,000 during 2011. During the year, the company had depreciation

Question:

Express had a net income of $66,000 during 2011. During the year, the company had depreciation expense of $28,000. increased by $22,000, and increased by $10,000. Those were the company’s only current assets and current liabilities. Use the indirect method to determine net cash flows from 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... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...