Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Note: it's not 207,410. Huluduey Corporation's comparative balance sheet for current assets and liabilities was as follows Dec. 31, Year 2 Dec. 31, Year 1

image text in transcribed

Note: it's not 207,410.

Huluduey Corporation's comparative balance sheet for current assets and liabilities was as follows Dec. 31, Year 2 Dec. 31, Year 1 Accounts receivable Inventory Accounts payable Dividends payable S32,350 18,640 15,940 51,460 $27,670 15,960 14,650 48,000 Adjust net income of $213,480 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 2 Adjustments to reconcile net income to net cash flow from operating activities: 3Changes 4Increase in accounts receivable 5 Increase in inventory 6 Increase in accounts payable 7 Net cash flow from operating activities n current operating assets and liabilities: (4,680.00) (2,680.00) 1,290.00

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

More Books

Students also viewed these Accounting questions