Changes in Current Operating Assets and Liabilities-Indirect Method Victor Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Accounts receivable $17,400 $17,100 Inventory 60,500 61,200 Accounts payable 19,400 18,100 Dividends payable 20,000 19,000 Adjust net income of $87,400 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 Victor Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Accounts receivable $17,400 $17,100 Inventory 60,500 61,200 Accounts payable 19,400 18,100 Dividends payable 20,000 19,000 Adjust net income of $87,400 for changes in operating assets and liabilities to arrive at net cash flow from operating activities.
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter15: Statement Of Cash Flows
Section: Chapter Questions
Problem 3BE
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![Changes in Current Operating Assets and Liabilities-Indirect Method
Victor Corporation's comparative balance sheet for current assets and liabilities was as follows:
Dec. 31, 20оY2
Dec. 31, 20Y1
Accounts receivable
$17,400
$17,100
Inventory
60,500
61,200
Accounts payable
19,400
18,100
Dividends payable
20,000
19,000
Adjust net income of $87,400 for changes in operating assets and liabilities to arrive at net cash flow from operating activities.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6795bcee-481e-4cd9-9402-1dd9d1389a86%2F9a4fdc74-01ce-45ea-80aa-435665698b49%2F26magts_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Changes in Current Operating Assets and Liabilities-Indirect Method
Victor Corporation's comparative balance sheet for current assets and liabilities was as follows:
Dec. 31, 20оY2
Dec. 31, 20Y1
Accounts receivable
$17,400
$17,100
Inventory
60,500
61,200
Accounts payable
19,400
18,100
Dividends payable
20,000
19,000
Adjust net income of $87,400 for changes in operating assets and liabilities to arrive at net cash flow from operating activities.
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