Neighbor Software Corp. has assembled the following data for the year ended December 31, 2010: Requirement 1.
Question:
Requirement
1. Prepare Neighbor Software Corp. s statement of cash flows using the indirect method to report operating activities. Include an accompanying schedule of noncash investing and financingactivities.
Transcribed Image Text:
December 31 2010 2009 Current Accounts: Current assets: Cash and cash equivalents Accounts receivable Inv Prepaid 560,000 $26,000 22,000 64,100 88,500 85,000 3,200 2,400 Current iabilities: Accounts payable Income tax payable Accrued liabilities 57,700 55,500 29,000 16,900 15,500 7,600 Transaction Data for 2010 Acquisition of land by issuing long-term note payabl$198,000 Loss on sale of equipment.. Stock dividends Collection of loan.1,000 Issuance of long-term note Depreciation expense Purchase of building159,000 Net i Retirement of bonds payable Purchase of treasury stock.$14,400 18,800 payable to borrow cash... 34,000 31,600 Payment of cash dividends 17,000 58,000 Issuance of common stock for cash.. Proceeds from sale of by issuing common stock.. 71,000 74,200 Purchase of long-term 49,900 12,900 6,000 eqipment tion
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Financial accounting
ISBN: 978-0136108863
8th Edition
Authors: Walter T. Harrison, Charles T. Horngren, William Bill Thomas
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