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

See similar textbooks

Similar questions

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
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, 2OY1 Accounts receivable $30,000 $29,200 Inventory 75,800 76,500 Accounts payable 28,000 26,300 Dividends payable 21,000 23,000 Adjust net income of $102,600 for changes in operating assets and liabilities to arrive at net cash flow from operating activities. $ 102,400 X
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…
The comparative temporary investments and inventory balances of a company follow. Current Year Previous Year Accounts payable $70,725 $61,500 Long-term debt 45,900 51,000 Based on this information, what is the amount and percentage of increase or decrease that would be shown on a balance sheet with horizontal analysis? Amount of Change Increase/Decrease Percentage Accounts payable $ % Long-term debt $ %
Changes in Current Operating Assets and Liabilities—Indirect Method Covington Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, Year 2 Dec. 31, Year 1 Accounts receivable $24,100 $23,700 Inventory 49,300 50,000 Accounts payable 21,200 19,400 Dividends payable 30,000 28,000 Adjust net income of $126,200 for changes in operating assets and liabilities to arrive at net cash flow from operating activities.$
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 $289,000 $172,260 Property, plant, and equipment 467,500 427,460 Intangible assets 93,500 38,280 Current liabilities 204,000 114,840 Long-term liabilities 306,000 229,680 Common stock 76,500 82,940 Retained earnings 263,500 210,540 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 CurrentyearAmount CurrentyearPercent PreviousyearAmount PreviousyearPercent Current assets $289,000 fill in the blank 1% $172,260 fill in the blank 2% Property, plant, and equipment…
Identifying and Computing Net Operating Assets (NOA) and Net Nonoperating Obligations (NNO)Following are the balance sheets and statement of earnings for Home Depot Inc. for fiscal year ended February 3, 2019, which the company labels fiscal year 2018. THE HOME DEPOT INC. Consolidated Balance Sheets February 3, January 28, $ millions, except par value 2019 2018 Assets Current assets Cash and cash equivalents $1,778 $3,595 Receivables, net 1,936 1,952 Merchandise inventories 13,925 12,748 Other current assets 890 638 Total current assets 18,529 18,933 Net property and equipment 22,375 22,075 Goodwill 2,252 2,275 Other assets 847 1,246 Total assets $44,003 $44,529 THE HOME DEPOT INC. Consolidated Balance Sheets February 3, January 28, $ millions, except par value 2019 2018 Liabilities and Stockholders’ Equity Current liabilities Short-term debt $1,339 $1,559 Accounts payable 7,755 7,244 Accrued salaries and…
Changes in Current Operating Assets and Liabilities—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 $29,600 $29,300 Inventory 63,600 64,300 Accounts payable 12,100 10,600 Dividends payable 20,000 21,000 Adjust net income of $96,600 for changes in operating assets and liabilities to arrive at net cash flow from operating activities.$fill in the blank
Changes in Current Operating Assets and Liabilities Jasneet Corporation’s comparative balance sheet for current assets and liabilities was as follows: Dec. 31, Year 2 Dec. 31, Year 1 Accounts receivable $20,200 $22,900 Inventory 13,000 10,700 Accounts payable 10,900 9,400 Dividends payable 25,100 30,700 Adjust net income of $185,000 for changes in operating assets and liabilities to arrive at net cash flows from operating activities.
Vertical Analysis of Balance Sheet Balance sheet data for Kwan Company on December 31, the end of two recent fiscal years, follow: Current Year Previous Year Current assets $278,110 $150,990 Property, plant, and equipment 575,400 517,680 Intangible assets 105,490 50,330 Current liabilities 182,210 100,660 Long-term liabilities 412,370 309,170 Common stock 95,900 93,470 Retained earnings 268,520 215,700 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. Kwan CompanyComparative Balance Sheet For the Years Ended December 31 Current assets $278,110 fill in the blank 1% $150,990 fill in the blank 2% Property, plant, and equipment 575,400 fill in the blank 3% 517,680 fill in the blank 4% Intangible assets 105,490…
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.