E22.16 (LO 1, 2) (Cash Provided by Operating, Investing, and Financing Activities) The balance sheet data of Brown Company at the end of 2025 and 2024 follow. Cash Accounts receivable (net) Inventory Prepaid expenses Land Accounts payable 2025 muund $ 30,000 2024 $ 35,000 55,000 45,000 Equipment Accumulated depreciation (18,000) (8,000) -equipment 65,000 45,000 15,000 25,000 90,000 75,000 $ 65,000 70,000 40,000 $307,000 $257,000 $ 52,000

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question
Don't give answer in image
E22.16 (LO 1, 2) (Cash Provided by
Operating, Investing, and Financing
Activities) The balance sheet data of
Brown Company at the end of 2025
and 2024 follow.
Cash
Accounts
receivable
(net)
Land
Accounts
payable
Accrued
expenses.
Notes
payable-
bank, long-
term
Bonds
payable
Inventory
Prepaid
expenses.
Equipment 90,000 75,000
Accumulated
depreciation (18,000) (8,000)
-equipment
Common
stock, $10
par
2025
Retained
earnings
$
30,000
55,000 45,000
65,000 45,000
2024
70,000
$
35,000
15,000 25,000
40,000
$307,000 $257,000
Ś
$
65,000 52,000
-0-
15,000 18,000
8,000
30,000 -0-
23,000
189,000 159,000
1. Operating activities.
2. Investing activities.
3. Financing activities.
5,000
$307,000 $257,000
Land was acquired for $30,000 in
exchange for common stock, par
$30,000, during the year; all
equipment purchased was for cash.
Equipment costing $10,000 was sold
for $3,000; book value of the
equipment was $6,000. Cash
dividends of $10,000 were declared
and paid during the year.
Instructions
Compute net cash provided (used) by:
Transcribed Image Text:E22.16 (LO 1, 2) (Cash Provided by Operating, Investing, and Financing Activities) The balance sheet data of Brown Company at the end of 2025 and 2024 follow. Cash Accounts receivable (net) Land Accounts payable Accrued expenses. Notes payable- bank, long- term Bonds payable Inventory Prepaid expenses. Equipment 90,000 75,000 Accumulated depreciation (18,000) (8,000) -equipment Common stock, $10 par 2025 Retained earnings $ 30,000 55,000 45,000 65,000 45,000 2024 70,000 $ 35,000 15,000 25,000 40,000 $307,000 $257,000 Ś $ 65,000 52,000 -0- 15,000 18,000 8,000 30,000 -0- 23,000 189,000 159,000 1. Operating activities. 2. Investing activities. 3. Financing activities. 5,000 $307,000 $257,000 Land was acquired for $30,000 in exchange for common stock, par $30,000, during the year; all equipment purchased was for cash. Equipment costing $10,000 was sold for $3,000; book value of the equipment was $6,000. Cash dividends of $10,000 were declared and paid during the year. Instructions Compute net cash provided (used) by:
Expert Solution
steps

Step by step

Solved in 3 steps with 2 images

Blurred answer
Knowledge Booster
Cash Flow Statement Analysis
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education