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Addtional Infomation: Commonsharsa wars lasusd for cash. Cash Paid during the year for income tax = ? The comparative statement of Financial position of Bramble Inc. as at June 30, 2023, and a statement of comprehensive Income for the 2023 Facal year follow: Assets Accounts receivable Inventory Prepeld expenses FV-OCI Investment Equipment Accumulated depreciation equipment Liabilities and Shareholders' Equity Accounts payable Income tax payable Dividenda payable Long-term not payable Common shares Retained emings Accumulated other comprehensive Income BRAMBLE INC. Statement of Financial Position June 30, 2023 Nat Cose of goods sold Gross proft Operating expenses Income from operationa BRAMBLE INC. Statement of Comprehensive Income For the Year Ended June 30, 2023 Interest expens Income before Income tax Income taxx Net Income Other comprehensive income Unrealized gain or loss-OCI Comprehensive Income Additional Information: 2 3 S. $340,000 164,000 176,000 121,900 54,500 8,400 46,100 6,300 39,800 3,100 $ 42,900 S 2023 20,000 86,200 103,900 2,400 47,700 June 30 180,000 $ 115,000 (35.900) (24,400) $ 404,300 $ 400,200 2,200 2022 $ 40,000 72,700 101,800 6,500 44,600 199,000 4,200 82,500 30,400 158,100 11,900 $ 404,300 $ 104,500 3,700 119,000 22,100 142.100 8,800 1 Bramble follova IFRS. Assume that interest la treated as an operating activity for purposes of the statement of cash flovia. Operating expenses include $11,500 In depreciation expense There were no disposals of equipment during the year. Common shares were sued for cash During the year, Bramble acquired $7,600 of equipment in exchange for long-term notes payable $ 400,200

Addtional Infomation: Commonsharsa wars lasusd for cash. Cash Paid during the year for income tax = ? The comparative statement of Financial position of Bramble Inc. as at June 30, 2023, and a statement of comprehensive Income for the 2023 Facal year follow: Assets Accounts receivable Inventory Prepeld expenses FV-OCI Investment Equipment Accumulated depreciation equipment Liabilities and Shareholders' Equity Accounts payable Income tax payable Dividenda payable Long-term not payable Common shares Retained emings Accumulated other comprehensive Income BRAMBLE INC. Statement of Financial Position June 30, 2023 Nat Cose of goods sold Gross proft Operating expenses Income from operationa BRAMBLE INC. Statement of Comprehensive Income For the Year Ended June 30, 2023 Interest expens Income before Income tax Income taxx Net Income Other comprehensive income Unrealized gain or loss-OCI Comprehensive Income Additional Information: 2 3 S. $340,000 164,000 176,000 121,900 54,500 8,400 46,100 6,300 39,800 3,100 $ 42,900 S 2023 20,000 86,200 103,900 2,400 47,700 June 30 180,000 $ 115,000 (35.900) (24,400) $ 404,300 $ 400,200 2,200 2022 $ 40,000 72,700 101,800 6,500 44,600 199,000 4,200 82,500 30,400 158,100 11,900 $ 404,300 $ 104,500 3,700 119,000 22,100 142.100 8,800 1 Bramble follova IFRS. Assume that interest la treated as an operating activity for purposes of the statement of cash flovia. Operating expenses include $11,500 In depreciation expense There were no disposals of equipment during the year. Common shares were sued for cash During the year, Bramble acquired $7,600 of equipment in exchange for long-term notes payable $ 400,200

FINANCIAL ACCOUNTING
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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Addtional Infomation: Commonsharsa wars lasusd for cash. Cash Paid during the year for income tax = ?
Transcribed Image Text:Addtional Infomation: Commonsharsa wars lasusd for cash. Cash Paid during the year for income tax = ?
The comparative statement of Financial position of Bramble Inc. as at June 30, 2023, and a statement of comprehensive Income for the 2023 Facal year follow: Assets Accounts receivable Inventory Prepeld expenses FV-OCI Investment Equipment Accumulated depreciation equipment Liabilities and Shareholders' Equity Accounts payable Income tax payable Dividenda payable Long-term not payable Common shares Retained emings Accumulated other comprehensive Income BRAMBLE INC. Statement of Financial Position June 30, 2023 Nat Cose of goods sold Gross proft Operating expenses Income from operationa BRAMBLE INC. Statement of Comprehensive Income For the Year Ended June 30, 2023 Interest expens Income before Income tax Income taxx Net Income Other comprehensive income Unrealized gain or loss-OCI Comprehensive Income Additional Information: 2 3 S. $340,000 164,000 176,000 121,900 54,500 8,400 46,100 6,300 39,800 3,100 $ 42,900 S 2023 20,000 86,200 103,900 2,400 47,700 June 30 180,000 $ 115,000 (35.900) (24,400) $ 404,300 $ 400,200 2,200 2022 $ 40,000 72,700 101,800 6,500 44,600 199,000 4,200 82,500 30,400 158,100 11,900 $ 404,300 $ 104,500 3,700 119,000 22,100 142.100 8,800 1 Bramble follova IFRS. Assume that interest la treated as an operating activity for purposes of the statement of cash flovia. Operating expenses include $11,500 In depreciation expense There were no disposals of equipment during the year. Common shares were sued for cash During the year, Bramble acquired $7,600 of equipment in exchange for long-term notes payable $ 400,200
Transcribed Image Text:The comparative statement of Financial position of Bramble Inc. as at June 30, 2023, and a statement of comprehensive Income for the 2023 Facal year follow: Assets Accounts receivable Inventory Prepeld expenses FV-OCI Investment Equipment Accumulated depreciation equipment Liabilities and Shareholders' Equity Accounts payable Income tax payable Dividenda payable Long-term not payable Common shares Retained emings Accumulated other comprehensive Income BRAMBLE INC. Statement of Financial Position June 30, 2023 Nat Cose of goods sold Gross proft Operating expenses Income from operationa BRAMBLE INC. Statement of Comprehensive Income For the Year Ended June 30, 2023 Interest expens Income before Income tax Income taxx Net Income Other comprehensive income Unrealized gain or loss-OCI Comprehensive Income Additional Information: 2 3 S. $340,000 164,000 176,000 121,900 54,500 8,400 46,100 6,300 39,800 3,100 $ 42,900 S 2023 20,000 86,200 103,900 2,400 47,700 June 30 180,000 $ 115,000 (35.900) (24,400) $ 404,300 $ 400,200 2,200 2022 $ 40,000 72,700 101,800 6,500 44,600 199,000 4,200 82,500 30,400 158,100 11,900 $ 404,300 $ 104,500 3,700 119,000 22,100 142.100 8,800 1 Bramble follova IFRS. Assume that interest la treated as an operating activity for purposes of the statement of cash flovia. Operating expenses include $11,500 In depreciation expense There were no disposals of equipment during the year. Common shares were sued for cash During the year, Bramble acquired $7,600 of equipment in exchange for long-term notes payable $ 400,200
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