Changes in Current Operating Assets and Liabilities Jasneet Corporation’s comparative balance sheet for current assets and liabilities was as follows: Dec. 31, Year 2 Dec. 31, Year 1 Accounts receivable $20,200 $22,900 Inventory 13,000 10,700 Accounts payable 10,900 9,400 Dividends payable 25,100 30,700 Adjust net income of $185,000 for changes in operating assets and liabilities to arrive at net cash flows from operating activities. $____
Changes in Current Operating Assets and Liabilities Jasneet Corporation’s comparative balance sheet for current assets and liabilities was as follows: Dec. 31, Year 2 Dec. 31, Year 1 Accounts receivable $20,200 $22,900 Inventory 13,000 10,700 Accounts payable 10,900 9,400 Dividends payable 25,100 30,700 Adjust net income of $185,000 for changes in operating assets and liabilities to arrive at net cash flows from operating activities. $____
Corporate Financial Accounting
14th Edition
ISBN:9781305653535
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter13: Statement Of Cash Flows
Section: Chapter Questions
Problem 13.3BE
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Changes in Current Operating Assets and Liabilities
Jasneet Corporation’s comparative balance sheet for current assets and liabilities was as follows:
| Dec. 31, Year 2 | Dec. 31, Year 1 | ||
| $20,200 | $22,900 | ||
| Inventory | 13,000 | 10,700 | |
| Accounts payable | 10,900 | 9,400 | |
| Dividends payable | 25,100 | 30,700 |
Adjust net income of $185,000 for changes in operating assets and liabilities to arrive at net cash flows from operating activities.
$____
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