Bramble Inc. had the following condensed balance sheet at the end of operations for 2024. Bramble Inc. Balance Sheet December 31, 2024 Cash $8,400 Current liabilities $15,000 Current assets other than cash 29,200 Long-term notes payable 25,500 Equity investments 20,100 Bonds payable 25,000 Plant assets (net) 67,100 Common stock 75,000 Land 39,900 Retained earnings 24,200 $164,700 $164,700 During 2025, the following occurred. 1. A tract of land was purchased for $9,100. 2. Bonds payable in the amount of $15,000 were redeemed at par. 3. An additional $10,000 in common stock was issued at par. 4. Dividends totaling $9,400 were paid to stockholders. 5. Net income was $30,000 after allowing depreciation of $13,600. 6. Land was purchased through the issuance of $22,500 in bonds. 7. 8. Bramble Inc. sold part of its investment portfolio for $13,000. This transaction resulted in a gain of $2,000 for the company. No unrealized gains or losses were recorded on these investments in 2025. Both current assets (other than cash) and current liabilities remained at the same amount. BRAMBLE INC. STATEMENT OF CASH FLOWS For the Year Ended December 31, 2025 Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to Net Cash Provided by Operating Activities : Depreciation Expense Gain on Sale of Investments Net Cash Provided by Operating Activities Cash Flows from Investing Activities Purchase of Land Sale of Investments Net Cash Provided by Investing Activities + Cash Flows from Financing Activities Redemption of Bonds Payable Issuance of Common Stock Payment of Dividends Net Cash Used by Financing Activities Net Increase in Cash Cash, January 1, 2025 Cash, December 31, 2025 Noncash Investing and Financing Activities + Issuance of Bonds for Land 13600 (2000) -8900 13000 30 1 4: (15000) 10000 (9400) (14 $ 3: 39
Bramble Inc. had the following condensed balance sheet at the end of operations for 2024. Bramble Inc. Balance Sheet December 31, 2024 Cash $8,400 Current liabilities $15,000 Current assets other than cash 29,200 Long-term notes payable 25,500 Equity investments 20,100 Bonds payable 25,000 Plant assets (net) 67,100 Common stock 75,000 Land 39,900 Retained earnings 24,200 $164,700 $164,700 During 2025, the following occurred. 1. A tract of land was purchased for $9,100. 2. Bonds payable in the amount of $15,000 were redeemed at par. 3. An additional $10,000 in common stock was issued at par. 4. Dividends totaling $9,400 were paid to stockholders. 5. Net income was $30,000 after allowing depreciation of $13,600. 6. Land was purchased through the issuance of $22,500 in bonds. 7. 8. Bramble Inc. sold part of its investment portfolio for $13,000. This transaction resulted in a gain of $2,000 for the company. No unrealized gains or losses were recorded on these investments in 2025. Both current assets (other than cash) and current liabilities remained at the same amount. BRAMBLE INC. STATEMENT OF CASH FLOWS For the Year Ended December 31, 2025 Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to Net Cash Provided by Operating Activities : Depreciation Expense Gain on Sale of Investments Net Cash Provided by Operating Activities Cash Flows from Investing Activities Purchase of Land Sale of Investments Net Cash Provided by Investing Activities + Cash Flows from Financing Activities Redemption of Bonds Payable Issuance of Common Stock Payment of Dividends Net Cash Used by Financing Activities Net Increase in Cash Cash, January 1, 2025 Cash, December 31, 2025 Noncash Investing and Financing Activities + Issuance of Bonds for Land 13600 (2000) -8900 13000 30 1 4: (15000) 10000 (9400) (14 $ 3: 39
Chapter1: Financial Statements And Business Decisions
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