1 Changes in Current Operating Assets and Liabilities-Indirect MethodBlue Circle Corporation's comparative balance sheet for current assets and liabilities was as follows:Dec. 31, 20Y2$21,50064,90023,50020,000Dec. 31, 20Y1$20,60065,60023,20019,000Accounts receivableInventoryAccounts payableDividends payableAdjust net income of $87,500 for changes in operating assets and liabilities to arrive at net cash flow from operating activitie

Solution... Partial cash flows statement is given below.

CESUR Changes in Current Operating Assets and Liabilities-Indirect Method Blue Circle Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Accounts receivable $21,500 $20,600 Inventory 64,900 65,600 Accounts payable 23,500 23,200 Dividends payable 20,000 19,000 Adjust net income of $87,500 for changes in operating assets and liabilities to arrive at net cash flow from operating activit

CESUR Changes in Current Operating Assets and Liabilities-Indirect Method Blue Circle Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Accounts receivable $21,500 $20,600 Inventory 64,900 65,600 Accounts payable 23,500 23,200 Dividends payable 20,000 19,000 Adjust net income of $87,500 for changes in operating assets and liabilities to arrive at net cash flow from operating activit

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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