Changes in Current Operating Ass Show Me How Covington Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 $26,100 $25,900 79,200 79,900 13,100 12,900 21,000 20,000 Accounts receivable Inventory Accounts payable Dividends payable Adjust net income of $88,900 for changes in operating assets and liabilities to arrive at net cash flow from operating activities. X Feedback Check My Work Once you have calculated the changes in the current operating assets and liabilities determine what impact those changes would have on cash. For example if accounts receivable has i mean the company has collected more cash or less cash? If accounts payable has decreased does that mean the company has more cash or less cash?

Changes in Current Operating Ass Show Me How Covington Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 $26,100 $25,900 79,200 79,900 13,100 12,900 21,000 20,000 Accounts receivable Inventory Accounts payable Dividends payable Adjust net income of $88,900 for changes in operating assets and liabilities to arrive at net cash flow from operating activities. X Feedback Check My Work Once you have calculated the changes in the current operating assets and liabilities determine what impact those changes would have on cash. For example if accounts receivable has i mean the company has collected more cash or less cash? If accounts payable has decreased does that mean the company has more cash or less cash?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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gEnabled: Midterm exami 7:55 Microsoft's current assets consist of cash, short-term investments, accounts receivable, and inventory. The following data were abstracted from a rccent financial statement: Inventory Total assets Current ratio Acid-test ratio Debt to equity ratic $ 190,000 $ 780,000 Shareholders' equity 2.65 1.70 1.60 Required: Compute the shareholders' equity for Microsoft: Saved