Changes in Current Operating Assets and Liabilities-Indirect Method Mohammed Corporation's comparative balance sheet for current assets and liabilities was as follows: Accounts receivable Inventory Accounts payable Dividends payable Dec. 31, Year 2 $15,200 51,100 14,900 18,000 Dec. 31, Year 1 $13,900 51,800 14,700 17,000 Adjust net income of $75,500 for changes in operating assets and liabilities to arrive at net cash flow from operating activities. 74,700 Xx

Changes in Current Operating Assets and Liabilities-Indirect Method Mohammed Corporation's comparative balance sheet for current assets and liabilities was as follows: Accounts receivable Inventory Accounts payable Dividends payable Dec. 31, Year 2 $15,200 51,100 14,900 18,000 Dec. 31, Year 1 $13,900 51,800 14,700 17,000 Adjust net income of $75,500 for changes in operating assets and liabilities to arrive at net cash flow from operating activities. 74,700 Xx

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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