Huluduey Corporation's comparative balance sheet for current assets and liabilities was as follows: ____________________ Dec. 31, Year
Question:
____________________ Dec. 31, Year 2 _________ Dec. 31, Year 1
Accounts receivable ....... $17,500 ........................ $12,500
Inventory ..................... 51,650 ........................... 44,200
Accounts payable ........... 8,480 ............................ 5,100
Dividends payable ......... 9,480 ............................ 6,100
Adjust net income of $75,800 for changes in operating assets and liabilities to arrive at net cash flow from operating activities?
Balance Sheet
Balance 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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Financial And Managerial Accounting
ISBN: 9781337119207
14th Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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