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, 2012 Dec. 31, 20Y1 Accounts receivable $21,600 $21,000 Inventory 50,100 50,800 Accounts payable 22,000 20,600 Dividends payable 22,000 21,000 Adjust net income of $93,600 for changes in operating assets and liabilities to arrive at net cash flow from operating activities. X
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, 2012 Dec. 31, 20Y1 Accounts receivable $21,600 $21,000 Inventory 50,100 50,800 Accounts payable 22,000 20,600 Dividends payable 22,000 21,000 Adjust net income of $93,600 for changes in operating assets and liabilities to arrive at net cash flow from operating activities. X
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
Mohammed Corporation's comparative balance sheet for current assets and liabilities was as follows:
Dec. 31, 20Y2
Dec. 31, 20Y1
Accounts receivable
$21,600
$21,000
Inventory
50,100
50,800
Accounts payable
22,000
20,600
Dividends payable
22,000
21,000
Adjust net income of $93,600 for changes in operating assets and liabilities to arrive at net cash flow from operating
activities.
|x
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