Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Huluduey Corporations comparative balance sheet for current assets and liabilities was as follows: Dec. 31, Year 2 Dec. 31, Year 1 Accounts receivable $33,340 $27,830

Huluduey Corporations comparative balance sheet for current assets and liabilities was as follows:

Dec. 31, Year 2

Dec. 31, Year 1

Accounts receivable $33,340 $27,830
Inventory 18,140 15,290
Accounts payable 15,680 13,780
Dividends payable 52,490 49,220

Adjust net income of $198,140 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.

image text in transcribed

eBook Show Me How Calculator Print Item Changes in current operating assets and liabilities-indirect method Reconciliation of Net Income Instructions Reconciliation of Net Income adjustments, if required 1 Net income 5198.140.00 Adjustments to reconcile net income to net cash flow from operating activities 2 Changes in current operating assets and liabilities 3 Decrease in accounts receivable 4,680.00 Increase in inventory (2.850.00) Increase in accounts payable 1,900.00 Net cash flow from operating activities $207,410.00 Check My Work

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

Cost management a strategic approach

Authors: Edward J. Blocher, David E. Stout, Gary Cokins

5th edition

ISBN: 73526940, 978-0073526942

More Books

Students also viewed these Accounting questions

Question

socialist egalitarianism which resulted in wage levelling;

Answered: 1 week ago

Question

soyuznye (all-Union, controlling enterprises directly from Moscow);

Answered: 1 week ago