Covington Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, 20Y2...
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Covington Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Accounts recelvable $21,200 $20,300 Inventory 76,300 77,000 Accounts payable 10,800 9,600 Dividends payable 27,000 25,000 Adjust net income of $115,700 for changes in operating assets and liabilities to arrive at net cash flow from operating activities. 117,500 X Covington Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Accounts recelvable $21,200 $20,300 Inventory 76,300 77,000 Accounts payable 10,800 9,600 Dividends payable 27,000 25,000 Adjust net income of $115,700 for changes in operating assets and liabilities to arrive at net cash flow from operating activities. 117,500 X
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1 Particulars Amount 2 Net income 115700 3 Adjustment fo... View the full answer
Related Book For
Financial and Managerial Accounting
ISBN: 978-1285866307
13th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
Posted Date:
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