Mohammed Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, Year 2 Dec. 31, Year 1 Accounts receivable $18,400 $22,200 Inventory 76,700 67,900 Accounts payable 12,400 15,500 Dividends payable 24,000 22,000 Adjust net income of $101,600 for changes in operating assets and liabilities to arrive at net cash flow from operating activities.
Mohammed Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, Year 2 Dec. 31, Year 1 Accounts receivable $18,400 $22,200 Inventory 76,700 67,900 Accounts payable 12,400 15,500 Dividends payable 24,000 22,000 Adjust net income of $101,600 for changes in operating assets and liabilities to arrive at net cash flow from operating activities.
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter15: Statement Of Cash Flows
Section: Chapter Questions
Problem 3BE
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Question
Mohammed Corporation's comparative balance sheet for current assets and liabilities was as follows:
| Dec. 31, Year 2 | Dec. 31, Year 1 | |||
| $18,400 | $22,200 | |||
| Inventory | 76,700 | 67,900 | ||
| Accounts payable | 12,400 | 15,500 | ||
| Dividends payable | 24,000 | 22,000 |
Adjust net income of $101,600 for changes in operating assets and liabilities to arrive at net cash flow from operating activities.
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