### Bramble Company Balance Sheet Overview#### Balance Sheet as of July 31, 2020**Assets:**- **Cash**: $73,120- **Accounts Receivable (Net)**: $44,620- **Inventory**: $64,120- **Equipment (Net)**: $84,000- **Patents**: $21,000- **Total Assets**: $286,860**Liabilities and Equity:**- **Notes and Accounts Payable**: $48,120- **Long-term Liabilities**: $79,120- **Stockholders’ Equity**: $159,620- **Total Liabilities and Equity**: $286,860#### Additional Information:1. **Cash Details:** - Includes $1,200 in a petty cash fund and $13,110 in a bond sinking fund.2. **Net Accounts Receivable:** - Comprised of two items: - Accounts Receivable: $48,120 - Allowance for Doubtful Accounts: $3,5003. **Inventory:** - $5,248 was shipped out on consignment by July 31, 2020. - Receivables of $5,248 were recognized for these consigned goods.4. **Equipment:** - Cost: $116,120 - Accumulated Depreciation: $32,1205. **Income Taxes Payable:** - $6,000 were accrued on July 31. - A cash fund was set up to meet this obligation but offset against the payable amount.#### Task:Prepare a corrected classified balance sheet as of July 31, 2020, using the additional information provided, and list current assets in order of liquidity. **Bramble Company Balance Sheet**---**Assets**- [Dropdown] _________________________ $ [Textbox] - [Dropdown] _________________________ $ [Textbox] - [Dropdown] _____________________________ $ [Textbox] - [Textbox] _______________________________ - [Textbox] _______________________________- [Dropdown] _________________________ $ [Textbox] - [Dropdown] _________________________ $ [Textbox] - [Dropdown] _________________________ $ [Textbox] - [Dropdown] _________________________ $ [Textbox] - [Dropdown] _________________________ $ [Textbox] - [Dropdown] _________________________ $ [Textbox] - [Dropdown] _____________________________- [Dropdown] _________________________ $ [Textbox]---**Liabilities and Stockholders' Equity**- [Textbox] _________________________ $ [Textbox]---*Note:*The balance sheet format displays two main sections:1. **Assets:** This section entails several dropdown options for categorizing assets, each accompanied by a textbox for entering monetary values.2. **Liabilities and Stockholders' Equity:** This section is meant for entering liability and equity figures, represented similarly by a textbox for inputting corresponding amounts.

BS termed as Balance Sheet is one of the vital financial statements which helps the business in…

Answered: BRAMBLE COMPANY BALANCE SHEET AS OF…

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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Comparative statement of financial position of Alpha Sdn Bhd as at 31 December 2023 Cash at bank Accounts receivable fless: provision for doubtful Inventories Plant and equipment (NBV) Investment in government securities Total assets Ordinary shares 180 million 10% Preference shares. Retained earnings Accounts payable Tax payable Deferred taxation 10% Debentures Sales Less: Cost of sales Gross profit Operating expenses Operating profit Investment income Profit before tax Taxation Profit after tax Interim dividend paid Profit attributable to members Additional information: I. II. III. Required: b. 2023 BM million a. Prepare the cash flow statement for Alp Show the reconciliation of profit before # # # # 84.00 585.50 33.60 509.20 1.094.70 # Income statement for the year ended 31 December 2023 105.00 815.00 205.90 15.00 37.80 21.00 RM million 860.00 560.00 300.00 224.40 75.60 9.00 84.60 18.80 65.80 34.30 31.50 RM 279.70 258.70 1,094.70 802.20 50.40 219.00 134.40 (26 marks) (14 marks)…
STATEMENT OF CASH FLOW EXAMPLE Kerby Company has prepared the following Balance Sheets for 2023 and 2022. Cash 12/31/23 $ 56 12/31/22 $ 40 Accounts receivable 41 42 Fixed assets 579 465 Accumulated depreciation (170) (140) $506 $407 Accounts payable Mortgage payable Preferred stock $ 74 $ 60 20 181 Additional Paid-In Capital - preferred 70 Common stock Retained earnings 100 61 ២៩៩៩88 100 100 $506 $407 1. On 8/1/23, Kerby sold a fixed asset with a cost of $91 and book value of $66 for $67. 2. Retained Earnings was adjusted by dividends and net income only. 3. Net Income in 2023 was $80. a. Net Cash Provided by Operations is $ b. Net Cash Used by Investments is $ c. Net Cash Provided by Financing is $
Balance Sheet for Bearcat Hathaway, 2022 2021 2022 Cash Accounts. Receivable $5,268,485 $10,268,485 Inventory $529,062 $696,685 Current Assets $8,371,777 $13,279,842 Less $2,574,230 $2,314,672 Gross Fixed Assets $16,251,665 $20,567,330 Accum.Depreciation Total Assets $7,460,897 $10,117,819 Accounts Payable Notes. Payable Current Liabilities Calculate the net working capital in 2022. Long Termi Debt Total Liabilities, None of these options are correct $10,572,740 $5,664,675 $8,854,338 $3,946,273 Total $17,162,545 $23,729,353 Liabilities and Equity Capital Surplus Retained. Earnings 2021 2022 $1,673,992 $2,438,271 Common Net Fixed Assets $8,790,768 $10,449,511 Stock ($0.50 $1,300,000 $1,600,000 par) $1,033,110 $1,987,233 $2,707,102 $4,425,504 $9,242,830 $11,468,302 $11,949,932 $15,893,806 $1,148,120 $1,800,969 $2,764,493 $4,434,578 $17,162,545 $23,729,353
The following data are provided: December 31 2021 2020 Cash $ 1300000 $ 1005000 Accounts receivable (net) 1500000 1150000 Inventories 2600000 2100000 Plant assets (net) 6000000 6600000 Accounts payable 1150000 820000 Income taxes payable 220000 90000 Bonds payable 1400000 1400000 10% Preferred stock, $50 par 1800000 1800000 Common stock, $10 par 2300000 1700000 Paid-in capital in excess of par 1650000 1400000 Retained earnings 4100000 3400000 Net credit sales 12800000 Cost of goods sold 8500000 Operating expenses 2900000 Net income 1600000 Additional information:Depreciation included in cost of goods sold and operating expenses is $1200000. On May 1, 2021, 60000 shares of common stock were issued. The preferred stock is cumulative. The preferred dividends were not declared during 2021.At December 31, 2021,…
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The financial information on Lazy Day, Inc. is as follows: 2019 2020 Cash $ 138 $ 97 Sales 10,204 11,317 Inventory 5,209 5,138 Depreciation 956 948 Cost of goods sold 4,207 4,618 Accounts payable 3,338 3,209 Long-term debt 4,200 3,800 Shareholders’ equity 9,229 9,906 Accounts receivable 2,780 2,960 Net fixed assets 8,640 8,720 Interest expense 350 320 Selling and administrative expenses 1,015 984 Taxes 1,250 1,512 What is the cash flow to creditors for 2020?
RITTER CORPORATION Income Statement 2021 Revenue Expenses $ 860 620 Depreciation 101 Net income $ 139 Dividends $ 119 RITTER CORPORATION Balance Sheet December 31 2020 2021 Assets Cash $66 $ 87 Other current assets 176 192 Net fixed assets Total assets Liabilities and Equity Accounts payable 381 401 $ 623 $ 680 Long-term debt Stockholders' equity $ 126 $ 147 151 167 346 366 $ 680 Total liabilities and equity $623 a. What is the change in cash during 2021? b. Determine the change in net working capital in 2021. c. Determine the cash flow generated by the firm's assets during 2021. a. Change in cash b. Change in net working capital c. Cash flow from assets

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BRAMBLE COMPANY BALANCE SHEET AS OF JULY 31, 2020 Cash $73,120 Notes and accounts payable $ 48,120 Accounts receivable (net) 44,620 Long-term liabilities 79,120 Inventory 64,120 Stockholders' equity 159,620 Equipment (net) 84,000 $286,860