Question

Barton Publication Company, Inc., has the following comparative balance sheet as of March 31, 2014.


Selected transaction data for the year ended March 31, 2014, include the following:
a. Net income................................................................................................. $ 76,600
b. Paid long- term note payable with cash...................................................... $ 59,400
c. Cash payments to employees.................................................................... $ 42,700
d. Loss on sale of land.................................................................................... $ 9,700
e. Acquired equipment by issuing long- term note payable.......................... $ 13,600
f. Cash payments to suppliers....................................................................... $ 147,400
g. Cash paid for interest................................................................................. $ 2,900
h. Depreciation expense on equipment......................................................... $ 13,100
i. Paid short- term note payable by issuing common stock........................... $ 5,700
j. Paid cash dividends.................................................................................... $ 45,600
k. Received cash for issuance of common stock............................................ $ 2,000
l. Cash received from customers................................................................... $ 298,200
m. Cash paid for income taxes........................................................................ $ 11,600
n. Sold land for cash....................................................................................... $ 51,800
o. Interest received (in cash)........................................................................... $ 1,300
p. Purchased long- term investment for cash.................................................. $ 3,000

Requirements
1. Prepare the statement of cash flows for Barton Publication Company, Inc., for the year ended March 31, 2014, using the indirect method for operating cash flows. Include a schedule of noncash investing and financing activities. All of the current accounts, ­except short- term notes payable, result from operating transactions.
2. Also prepare a supplementary schedule of cash flows from operations using the directmethod.


$1.99
Sales6
Views86
Comments0
  • CreatedAugust 27, 2014
  • Files Included
Post your question
5000