Bramble Ltd. had the following comparative statement of financial position: Cash Bramble Limited Comparative Statement of Financial Position As at December 31 Accounts receivable Inventory Prepaid insurance Equipment Accumulated depreciation-equipment Total assets Accounts payable Salaries and wages payable Interest payable Income tax payable Bank loans 4 2023 $25,600 42.500 25,000 3,130 127,520 (28,100) (15,600) $195,650 $184,400 5.000 2.500 $28,750 $25,000 5,000 37,500 81.300 2022 $15,600 31.900 37,500 Common shares Retained earnings Total liabilities and shareholders' equity $195,650 2,500 35.600 112.500 2.500 3,750 6,250 43,100 81.300 22.500 $184,400

Bramble Ltd. had the following comparative statement of financial position: Cash Bramble Limited Comparative Statement of Financial Position As at December 31 Accounts receivable Inventory Prepaid insurance Equipment Accumulated depreciation-equipment Total assets Accounts payable Salaries and wages payable Interest payable Income tax payable Bank loans 4 2023 $25,600 42.500 25,000 3,130 127,520 (28,100) (15,600) $195,650 $184,400 5.000 2.500 $28,750 $25,000 5,000 37,500 81.300 2022 $15,600 31.900 37,500 Common shares Retained earnings Total liabilities and shareholders' equity $195,650 2,500 35.600 112.500 2.500 3,750 6,250 43,100 81.300 22.500 $184,400

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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