Changes in Current Operating Assets and Liabilities—Indirect MethodVictor Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, Year 2Dec. 31, Year 1Accounts receivable$25,100 $29,500 Inventory60,000 53,600 Accounts payable9,700 12,000 Dividends payable26,000 28,000 Adjust net income of $127,500 for changes in operating assets and liabilities to arrive at net cash flow from operating activities.$fill in the blank 1

Introduction: Statement of cash flows: All cash in and out flows are shown in cash flow statements.…

Answered: Victor Corporation's comparative…

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

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

	Dec. 31, Year 2	Dec. 31, Year 1
Accounts receivable	$25,100		$29,500
Inventory	60,000		53,600
Accounts payable	9,700		12,000
Dividends payable	26,000		28,000

Adjust net income of $127,500 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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