Changes in Current Operating Assets and Liabilities—Indirect Method Mohammed Corporation's comparative balance sheet for current assets...
Changes in Current Operating Assets and Liabilities—Indirect Method
Mohammed Corporation's comparative balance sheet for current assets and liabilities was as follows:
| Dec. 31, Year 2 | Dec. 31, Year 1 | |||
| Accounts receivable | $23,900 | $27,800 | ||
| Inventory | 73,500 | 66,200 | ||
| Accounts payable | 22,600 | 19,800 | ||
| Dividends payable | 22,000 | 23,000 | ||
Adjust net income of $106,200 for changes in operating assets and liabilities to arrive at net cash flow from operating activities.
Homework Answers
Decrease in accounts receivable = $27,800 - $23,900 = $3,900
Increase in inventory = $73,500 - $66,200 = $7,300
Increase in accounts payable = $22,600 - $19,800 = $2,800
Cash flow from operating activities = $106,200 + $3,900 - $7,300 + $2,800 = $105,600
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Changes in Current Operating Assets and Liabilities—Indirect
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Mohammed Corporation's comparative balance sheet for current
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