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I'm taking Accounting Finance 201 and I'm stuck on Chapter 13, 8-1 problem set, Reconciliation of Net Income. I've got just about everything figured out
I'm taking Accounting Finance 201 and I'm stuck on Chapter 13, 8-1 problem set, Reconciliation of Net Income. I've got just about everything figured out except getting the math to work on the Net Cash flow, which is highlighted in Pink. Missing something in this equation, but not sure what. Thought it was simply $211,930-$3,670-$1,090+$2,170=$209,340, but obviously it's not.
8-1 Problem Set: Chapter 13 eBook Show Me How Calculator Print Item Changes in current operating assets and liabilities-indirect method Instructions Amount Descriptions Reconciliation of Net Income Instructions Reconciliation of Net Income Shaded cells have feedback. Huluduey Corporation's comparative balance sheet for current assets and liabilities was as follows: 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. Dec. 31, Year 2 Dec. 31, Year 1 Accounts receivable $31,340 $27,670 17,180 16.090 Inventory Accounts payable Dividends payable 16,510 1 Net income 14,340 51,850 49,250 2 Adjustments to reconcile net income to net cash flow from operating activities: 3 Changes in current operating assets and liabilities: 4 Increase in accounts receivable (3,670.00) (1,090.00) 5 Increase in inventory 6 Increase in accounts payable 2,170.00 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. 7 Net cash flow from operating activities $209,340.00 Points: 7.43/9 Check My WorkStep by Step Solution
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