Changes in Current Operating Assets and Liabilities—Indirect MethodBlue Circle Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, 20Y2Dec. 31, 20Y1Accounts receivable$20,000 $19,300 Inventory61,900 62,600 Accounts payable21,000 20,800 Dividends payable19,000 18,000 Adjust net income of $79,900 for changes in operating assets and liabilities to arrive at net cash flow from operating activities.$fill in the blank 1

Operating Activities - Under this activity all the company operation-related activities like sales,…

Answered: Changes in Current Operating Assets and…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Changes in Current Operating Assets and Liabilities—Indirect Method

Blue Circle Corporation's comparative balance sheet for current assets and liabilities was as follows:

	Dec. 31, 20Y2	Dec. 31, 20Y1
Accounts receivable	$20,000		$19,300
Inventory	61,900		62,600
Accounts payable	21,000		20,800
Dividends payable	19,000		18,000

Adjust net income of $79,900 for changes in operating assets and liabilities to arrive at net cash flow from operating activities.
$fill in the blank 1

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