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, 20Y2 Dec. 31, 20Y1 $29,600 $28,800 79,000 79,700 19,700 19,200 30,000 28,000 Accounts receivable Inventory Accounts payable Dividends payable
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, 20Y2 Dec. 31, 20Y1 $29,600 $28,800 79,000 79,700 19,700 19,200 30,000 28,000 Accounts receivable Inventory Accounts payable Dividends payable
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![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, 20Y2 Dec. 31, 20Y1
$29,600
$28,800
79,000
79,700
19,700
19,200
30,000
28,000
Adjust net income of $126,800 for changes in operating assets and liabilities to arrive at net cash flow from
operating activities.
X
Accounts receivable
Inventory
Accounts payable
Dividends payable
Feedback
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Transcribed Image Text: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, 20Y2 Dec. 31, 20Y1
$29,600
$28,800
79,000
79,700
19,700
19,200
30,000
28,000
Adjust net income of $126,800 for changes in operating assets and liabilities to arrive at net cash flow from
operating activities.
X
Accounts receivable
Inventory
Accounts payable
Dividends payable
Feedback
Check My Work
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