The comparative balance sheet of Southern Bell Company at March 31, 20X9, reported the following 31 /3/20X $4,000 Current Assets: 31/3/X9 $6,200 Cash and cash equivalents Accounts receivable 21,700 14,900 63,200 Inventories 60,600 Current Liabilities: $27,600 $30,100 Accounts payable Accrued liabilities 11,100 4,700 10,700 Income taxes payable 8,000 Southern Bell's transactions during the year ended March 31, 20X9 included the following: Payment of cash dividend Purchase of equipment $30,000 78,700 Issuance of long-term note payable to borrow cash Depreciation expense Purchase of building 50,000 17,300 47,000 Net income 70,000 11,000 Issuance of common stock Acquisition of land by issuing L-T Note Payable 95,000 Required: Prepare Southern Bell's statement of cash flows for the year ended March 31, 20 X 9, using the indirect method.

The comparative balance sheet of Southern Bell Company at March 31, 20X9, reported the following 31 /3/20X $4,000 Current Assets: 31/3/X9 $6,200 Cash and cash equivalents Accounts receivable 21,700 14,900 63,200 Inventories 60,600 Current Liabilities: $27,600 $30,100 Accounts payable Accrued liabilities 11,100 4,700 10,700 Income taxes payable 8,000 Southern Bell's transactions during the year ended March 31, 20X9 included the following: Payment of cash dividend Purchase of equipment $30,000 78,700 Issuance of long-term note payable to borrow cash Depreciation expense Purchase of building 50,000 17,300 47,000 Net income 70,000 11,000 Issuance of common stock Acquisition of land by issuing L-T Note Payable 95,000 Required: Prepare Southern Bell's statement of cash flows for the year ended March 31, 20 X 9, using the indirect method.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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