Changes in Current Operating Assets and Liabilities—Indirect Method Mohammed Corporation's comparative balance sheet for current assets...

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Changes in Current Operating Assets and Liabilities—Indirect Method Mohammed Corporation's comparative balance sheet for current assets...

Changes in Current Operating Assets and Liabilities—Indirect Method

Mohammed Corporation's comparative balance sheet for current assets and liabilities was as follows:

	Dec. 31, 20Y2	Dec. 31, 20Y1
Accounts receivable	$18,500	$18,300
Inventory	56,500	57,200
Accounts payable	11,400	10,400
Dividends payable	18,000	17,000

Adjust net income of $78,600 for changes in operating assets and liabilities to arrive at net cash flow from operating activities.
$

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Answer 1

Answer #1

Answer-

MOHAMMED CORPORATION
STATEMENT OF CASH FLOWS PARTIAL (USING INDIRECT METHOD)
FOR THE YEAR ENDED DECEMBER 31,20Y2

Particulars		Amount
		$
Cash flow from operating activities
Net Income		78600
Adjustments to reconcile net income to net cash provided by operating activities
Adjustment for non cash effects

Change in operating assets & liabilities

Increase in accounts receivable		-200
Decrease in inventory		700
Increase in accounts payable		1000
Net cash flow from operating activities		80100

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Answer 2

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