Changes in Current Operating Assets and Liabilitics-Indirect Method Blue Circle Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Accounts receivable $17,900 $17,700 Inventory 56,000 56,700 Accounts payable 20,700 19,600 Dividends payable 26,000 24,000 Adjust net income of $110,600 for changes in operating assets and liabilities to arrive at net cash flow from operating activities. х

Changes in Current Operating Assets and Liabilitics-Indirect Method Blue Circle Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Accounts receivable $17,900 $17,700 Inventory 56,000 56,700 Accounts payable 20,700 19,600 Dividends payable 26,000 24,000 Adjust net income of $110,600 for changes in operating assets and liabilities to arrive at net cash flow from operating activities. х

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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Changes in Current Operating Assets and Liabilities—Indirect Method Mohammed Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, Year 2 Dec. 31, Year 1 Accounts receivable $22,400 $18,500 Inventory 66,900 77,800 Accounts payable 30,400 26,400 Dividends payable 22,000 20,000 Adjust net income of $89,300 for changes in operating assets and liabilities to arrive at net cash flow from operating activities.$
Changes in current operating assets and liabilities-indirect method Victor Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Accounts receivable $21,000 $20,400 Inventory 72,300 73,000 Accounts payable 18,800 17,700 Dividends payable 20,000 19,000 Adjust net income of $84,100 for changes in operating assets and liabilities to arrive at net cash flows from operating activities. 86,900 X
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Vertical Analysis of Balance Sheet Balance sheet data for Alvarez Company on December 31, the end of two recent fiscal years, follows: Current Year Previous Year Current assets $299,520 $182,520 Property, plant, and equipment 542,880 484,380 Intangible assets 93,600 35,100 Current liabilities 215,280 112,320 Long-term liabilities 365,040 287,820 Common stock 93,600 98,280 Retained earnings 262,080 203,580 Prepare a comparative balance sheet for both years, stating each asset as a percent of total assets and each liability and stockholders' equity item as a percent of the total liabilities and stockholders' equity. If required, round percentages to one decimal place. Alvaraz Company Comparative Balance Sheet For the Years Ended December 31 Current Current Previous Previous уear year year year Amount Percent Amount Percent Current assets $299,520 % $182,520 % Property, plant, and equipment 542,880 % 484,380 Intangible assets 93,600 % 35,100 % Total assets $936,000 % $702,000 % Current…
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Fortune Corporation's comparative balance sheet showed noncash current assets and liabilities as follows: Dec. 31, Year 2 Dec. 31, Year 1 $7,639 $4,034 11,762 16,277 4,443 5,510 4,585 2,265 Accounts receivable Merchandise inventory Accounts payable Dividends payable Adjust Year 2 net income of $48,103 for changes in current operating assets and liabilities to arrive at net cash flows from operating activities using the indirect method.
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