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 forequipment).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 soldfor $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 decreasecash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)Cash Flows from Operating ActivitiesNet IncomeBRAMBLE COMPANYStatement of Cash FlowsFor the Year Ended December 31, 2022◄►LA AssetsCashAccounts receivableInventoryPrepaid expensesLandBuildingsAccumulated depreciation-buildingsEquipmentAccumulated depreciation-equipmentTotalDecember 31Liabilities and Stockholders' EquityAccounts payableBonds payableCommon stock, $1 parRetained earningsTotal2022$60,00040,000149,60013,500147,300197,900(58,600)230,700(44,200)$736,200$46,300260,000194,000235,900$736,2002021$46,30062,000143,90025,100132,900197,900(34,400)156,900(35,600)$695,000$39,600260,000159,600235,800$695,000

Statement of Cash Flow - Statement of Cash Flow shows the movement of cash in the particular…

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 + + $

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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