Alpenrose Corporation’s comparative balance sheet for current assets and liabili
ID: 2466724 • Letter: A
Question
Alpenrose Corporation’s comparative balance sheet for current assets and liabilities was as follows:
Dec. 31, 2016
Dec. 31, 2015
Adjust net income of $211,930 for changes in operating assets and liabilities to arrive at net cash flow from operating activities
The section of the statement of cash flows that reports the cash transactions affecting the determination of net income.
. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. Use the minus sign to indicate cash outflows, cash payments, decreases in cash and for any adjustments, if required.
In CengageNOW, an Amount Description is a text entry other than an Account that has an amount associated with it.
Net cash flow from operating activities
Adjust net income of $211,930 for changes in operating assets and liabilities to arrive at net cash flow from operating activities
The section of the statement of cash flows that reports the cash transactions affecting the determination of net income.
. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. Use the minus sign to indicate cash outflows, cash payments, decreases in cash and for any adjustments, if required.
Question not attempted.
1
Net income
2
Adjustments to reconcile net income to net cash flow from operating activities:
3
Changes in current operating assets and liabilities:
4
5
6
7
Dec. 31, 2016
Dec. 31, 2015
Accounts receivable $27,670 $31,340 Inventory 17,180 16,090 Accounts payable 16,510 14,340 Dividends payable 49,250 51,850Explanation / Answer
Changes in current operating assets and liabilities: $ $ Decrease in accounts receivable 3670 (31340-27670) Increase in inventory -1090 (16090-17180) Increase in accounts payable 2170 (16510-14340) Decrease in dividends payable -2600 (51850+49250) Changes in current operating assets and liabilities= 2150 Adjustments to reconcile net income to net cash flow from operating activities: $ Net income 211930 Decrease in accounts receivable 3670 Increase in inventory -1090 Increase in accounts payable 2170 Decrease in dividends payable -2600 214080
Related Questions
drjack9650@gmail.com
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.