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Can someone explain what i'm doing wrong? Huluduey Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, Year 2 $31,340
Can someone explain what i'm doing wrong?
Huluduey Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, Year 2 $31,340 Dec. 31, Year 1 $27,670 Accounts receivable Inventory 17,180 16,090 14,340 Accounts payable 16,510 Dividends payable 51,850 49,250 Adjust net income of $211,930 for changes in operating assets and liabilities to arrive at net cash flow from operating activities. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. Use the minus sign to indicate cash outflows, cash payments, decreases in cash and for any adjustments, if required. Amount Descriptions Amount Descriptions Cash paid for dividends Decrease in accounts payable Decrease in accounts receivable Decrease in dividends payable Decrease in inventory Increase in accounts payable Increase in accounts receivable Increase in dividends payable Increase in inventory Net cash flow from operating activities Reconciliation of Net Income Shaded cells have feedback. X Adjust net income of $211,930 for changes in operating assets and liabilities to arrive at net cash flow from operating activities. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. Use the minus sign to indicate cash outflows, cash payments, decreases in cash and for any adjustments, if required. 1 Net income $211.930,00 Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and liabilities: Increase in accounts receivable 3,670.00 Increase in accounts payable 2,170.00 Increase in inventory 7,450.00 Net cash flow from operating activities $2,600.00 Points: 6.3/9 Feedback Check My Work Once you have calculated the changes in the current operating assets and liabilities determine what impact those changes would have on cash. For example if accounts receivable has increased from last year to this year does that mean the company has collected more cash or less cash? If accounts payable has decreased does that mean the company has more cash or less cashStep by Step Solution
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