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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![The comparative balance sheet of Southern Bell Company at March 31, 20X9, reported
the following
Current Assets:
31/3/20X
$4,000
31/3/X9
$6,200
Cash and cash equivalents
Accounts receivable
21,700
14,900
Inventories
60,600
63,200
Current Liabilities:
Accounts payable
$27,600
$30,100
Accrued liabilities
11,100
4,700
10,700
8,000
Income taxes payable
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
50,000
Issuance of long-term note payable to borrow cash
Depreciation expense
Purchase of building
Net income
17,300
47,000
70,000
Issuance of common stock
11,000
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.
M](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6a3f2e7d-5cb8-4afa-9389-12614fdb6539%2Fee6d1eb0-8a2e-4101-87e8-bfcdc543331f%2Fq5jc576_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The comparative balance sheet of Southern Bell Company at March 31, 20X9, reported
the following
Current Assets:
31/3/20X
$4,000
31/3/X9
$6,200
Cash and cash equivalents
Accounts receivable
21,700
14,900
Inventories
60,600
63,200
Current Liabilities:
Accounts payable
$27,600
$30,100
Accrued liabilities
11,100
4,700
10,700
8,000
Income taxes payable
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
50,000
Issuance of long-term note payable to borrow cash
Depreciation expense
Purchase of building
Net income
17,300
47,000
70,000
Issuance of common stock
11,000
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.
M
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