Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Changes in Current Operating Assets and LiabilitiesIndirect Method Blue Circle Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, 20Y2Dec.

Changes in Current Operating Assets and LiabilitiesIndirect Method

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

Dec. 31, 20Y2Dec. 31, 20Y1

Accounts receivable$24,400$24,200

Inventory72,90073,600

Accounts payable21,90020,300

Dividends payable25,00027,000

Adjust net income of $124,700 for changes in operating assets and liabilities to arrive at netcash flow from operating activities.

Answer: $

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting

Authors: Michelle L. Hanlon, Robert P. Magee, Glenn M. Pfeiffer, Thomas R. Dyckman

6th Edition

1618533118, 978-1618533111

More Books

Students also viewed these Accounting questions

Question

What are the objectives of job evaluation ?

Answered: 1 week ago

Question

Write a note on job design.

Answered: 1 week ago

Question

Compute the derivative of f(x)cos(-4/5x)

Answered: 1 week ago

Question

Discuss the process involved in selection.

Answered: 1 week ago