Additional information: 1. 2. 3. 4. 5. 6. Operating expenses include depreciation expense of $42,000 ($24,200 of depreciation expense for buildings and $17,800 for equipment). Land was sold for cash at book value. Cash dividends of $45,900 were declared and paid. Net income for 2022 was $46,000. Equipment was purchased for $95,300 cash. In addition, equipment costing $21,500 with a book value of $12,300 was sold for $5,100 cash. 34,400 shares of $1 par value common stock were issued in exchange for land with a fair value of $34,400. Prepare a statement of cash flows for the year ended December 31, 2022, using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) BRAMBLE COMPANY Statement of Cash Flows For the Year Ended December 31, 2022 Cash Flows from Operating Activities Net Income ţ + + $
Additional information: 1. 2. 3. 4. 5. 6. Operating expenses include depreciation expense of $42,000 ($24,200 of depreciation expense for buildings and $17,800 for equipment). Land was sold for cash at book value. Cash dividends of $45,900 were declared and paid. Net income for 2022 was $46,000. Equipment was purchased for $95,300 cash. In addition, equipment costing $21,500 with a book value of $12,300 was sold for $5,100 cash. 34,400 shares of $1 par value common stock were issued in exchange for land with a fair value of $34,400. Prepare a statement of cash flows for the year ended December 31, 2022, using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) BRAMBLE COMPANY Statement of Cash Flows For the Year Ended December 31, 2022 Cash Flows from Operating Activities Net Income ţ + + $
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![Additional information:
1.
2.
3.
4.
5.
6.
Operating expenses include depreciation expense of $42,000 ($24,200 of depreciation expense for buildings and $17,800 for
equipment).
Land was sold for cash at book value.
Cash dividends of $45,900 were declared and paid.
Net income for 2022 was $46,000.
Equipment was purchased for $95,300 cash. In addition, equipment costing $21,500 with a book value of $12,300 was sold
for $5,100 cash.
34,400 shares of $1 par value common stock were issued in exchange for land with a fair value of $34,400.
Prepare a statement of cash flows for the year ended December 31, 2022, using the indirect method. (Show amounts that decrease
cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
Cash Flows from Operating Activities
Net Income
BRAMBLE COMPANY
Statement of Cash Flows
For the Year Ended December 31, 2022
◄►
LA](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3d5933e9-d76c-4df3-bcf7-0ce88c52c7ef%2F094854c2-85b2-4087-bd39-0f2c8301e220%2Ffudvfsd_processed.png&w=3840&q=75)
Transcribed Image Text:Additional information:
1.
2.
3.
4.
5.
6.
Operating expenses include depreciation expense of $42,000 ($24,200 of depreciation expense for buildings and $17,800 for
equipment).
Land was sold for cash at book value.
Cash dividends of $45,900 were declared and paid.
Net income for 2022 was $46,000.
Equipment was purchased for $95,300 cash. In addition, equipment costing $21,500 with a book value of $12,300 was sold
for $5,100 cash.
34,400 shares of $1 par value common stock were issued in exchange for land with a fair value of $34,400.
Prepare a statement of cash flows for the year ended December 31, 2022, using the indirect method. (Show amounts that decrease
cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
Cash Flows from Operating Activities
Net Income
BRAMBLE COMPANY
Statement of Cash Flows
For the Year Ended December 31, 2022
◄►
LA
![Assets
Cash
Accounts receivable
Inventory
Prepaid expenses
Land
Buildings
Accumulated depreciation-buildings
Equipment
Accumulated depreciation-equipment
Total
December 31
Liabilities and Stockholders' Equity
Accounts payable
Bonds payable
Common stock, $1 par
Retained earnings
Total
2022
$60,000
40,000
149,600
13,500
147,300
197,900
(58,600)
230,700
(44,200)
$736,200
$46,300
260,000
194,000
235,900
$736,200
2021
$46,300
62,000
143,900
25,100
132,900
197,900
(34,400)
156,900
(35,600)
$695,000
$39,600
260,000
159,600
235,800
$695,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3d5933e9-d76c-4df3-bcf7-0ce88c52c7ef%2F094854c2-85b2-4087-bd39-0f2c8301e220%2F579mhgd_processed.png&w=3840&q=75)
Transcribed Image Text:Assets
Cash
Accounts receivable
Inventory
Prepaid expenses
Land
Buildings
Accumulated depreciation-buildings
Equipment
Accumulated depreciation-equipment
Total
December 31
Liabilities and Stockholders' Equity
Accounts payable
Bonds payable
Common stock, $1 par
Retained earnings
Total
2022
$60,000
40,000
149,600
13,500
147,300
197,900
(58,600)
230,700
(44,200)
$736,200
$46,300
260,000
194,000
235,900
$736,200
2021
$46,300
62,000
143,900
25,100
132,900
197,900
(34,400)
156,900
(35,600)
$695,000
$39,600
260,000
159,600
235,800
$695,000
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