Lanier Corporations comparative balance sheet for current assets and liabilities was as follows: Adjust net income of
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Adjust net income of $290,000 for changes in operating assets and liabilities to arrive at cash flows from operatingactivities.
Balance SheetBalance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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Dec. 31, 2008 Dec. 31, 2007 Accounts receivable Inventory Accounts payable Dividends payable $32,500 69,000 51,500 15,000 $25,000 48,000 32,000 16,400
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Related Book For
Accounting
ISBN: 978-0324401844
22nd Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
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