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 Accounts receivable $21,500 Inventory 64,900 Accounts payable 23,500 Dividends payable 20,000 Adjust net income of $87,500 for changes in operating assets and liabilities to arrive at net cash flow from operating activities. 88,600 X Dec. 31, 20Y1 $20,600 65,600 23,200 19,000
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 Accounts receivable $21,500 Inventory 64,900 Accounts payable 23,500 Dividends payable 20,000 Adjust net income of $87,500 for changes in operating assets and liabilities to arrive at net cash flow from operating activities. 88,600 X Dec. 31, 20Y1 $20,600 65,600 23,200 19,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text: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
Accounts receivable
$21,500
Inventory
64,900
Accounts payable
23,500
Dividends payable
20,000
Adjust net income of $87,500 for changes in operating assets and liabilities to arrive at net cash flow from operating activities.
88,600 X
Dec. 31, 20Y1
$20,600
65,600
23,200
19,000
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