The financial statements of Bella Corporation follow: Additional Information: 1. No short-term investments were purchased during the
Question:
The financial statements of Bella Corporation follow:
Additional Information:1. No short-term investments were purchased during the year.2. Equipment costing $20,000,000 [$20,000 (thousand)] was sold during the year.
Required:
A. Prepare the operating section of the statement of cash flows using the direct method.B. Prepare the statement of cash flows using the indirect method.
Transcribed Image Text:
BELLA CORPORATION Balance Sheet December 31, 2019, and 2018 (in thousands) Cash and cash equivalents Short-term investments, at market Receivables Inventories Prepaid expenses Property, plant, and equipment Accumulated depreciation Total assets Current notes payable Accounts payable Accrued expenses Accrued dividends Accrued income taxes Long-term notes payable Common stock 2019 $8,328 8,893 6,920 4,637 2,775 9,509 13,636 1,269 2018 $6,458 1,426 127,094 98,690 (16,883) (11,156) $141,764 $113,078 $ 1,996 $1,212 8,500 1,510 26,624 10,557 5,255 1,848 9,153 879 2,199 8,749 256 63,245 19,734 (849) 257 Additional paid-in capital 68,946 Retained earnings 18,866 Treasury stock (849) Total liabilities and shareholders' equity $141,764 $113,078
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Introduction To AccountingAn Integrated Approach
ISBN: 9781119600107
8th Edition
Authors: Penne Ainsworth, Dan Deines
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