Changes in Current Operating Assets and Liabilities-Indirect MethodMohammed Corporation's comparative balance sheet for current assets and liabilities was as follows:Dec. 31,20Y1AccountsreceivableInventoryAccountspayableDec. 31,20Y2$19,90053,40010,800$19,10021,00054,1009,600DividendspayableAdjust net income of $104,400 for changes in operating assets and liabilities to arrive at net cash flow from operating activities.23,000

Net Income $104,400 Less: Increase in Accounts Receivables $(800) Add: Decrease in Inventory…

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, 20Y1 Accounts receivable Inventory Accounts payable Dividends payable Dec. 31, 20Y2 $19,900 53,400 10,800 21,000 $19,100 54,100 9,600 23,000 Adjust net income of $104,400 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 Mohammed Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, 20Y1 Accounts receivable Inventory Accounts payable Dividends payable Dec. 31, 20Y2 $19,900 53,400 10,800 21,000 $19,100 54,100 9,600 23,000 Adjust net income of $104,400 for changes in operating assets and liabilities to arrive at net cash flow from operating activities. $

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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