WileyPLUS 1Sreahlmms 1.D 8BAraer in partally cnet Try aganThehatonee shoets for Brambe Corp an of December 31 are presented bel.Bramble Corp.Comparative Balance SheetsDecember 31Asets20172016Cnb$86,224$57,060Acconts recelvable63,40073,544InventoryPrepaid expenses192,039180,05619,37526,628Land183,860164,840Buildings253,600253,600Accumulated depreciation-buildings(76,080 )(50,720 )Equipment285,300196,540Accumulated depreciation-equipment(57,060 )$950,658(44,380 )Total$857,168Liabilities and Stockholders' EquityAccounts payable$ 56,718$ 45,648Bonds payableCommon stock, $1 par380,400380,400253,600202,880Retained earnings259,940228,240Total$950,658$857,168Additional information:1. Operating expenses include depreciation expense of $53.256.2. Land was sold for cash at book value.3. Cash dividends of $15.216 were paid.4. Net income for 2017 was $46,916.S. Equipment was purchased for $116,656 cash. In addition, equipment costing $27,896 wvith a book value of $12.680 was sold for $10,144 cash,6. 50,720 shares of $1 par value common stock were issued in exchange for land wvith a fair value of $50,720.Prepare a statement of cash flows for the year ended December 31, 2017, using the indirect method. (Show amounts that decrease cash flow with either a- sign e.g. 15,000 or in parenthesis eg. (15,000))Bramble CorpStatement of Cash FlowsFor the Year Ended December 31, 2017Cash o from viesOpersting Activi46916stments to reconcile net income to1107053256

Cash Flow Statement This is the statement which shows how much cash is received and used for each…

Si par value common stock vere issued in exchange for land with a fair value of s50,720. Prepare a statement of cash fous for the year ended December 31. 2017, using the indirect method. (Show amounts that decrease cash flow with either asign eg 15,000 or in parenthesis (15.00) Bramble Corm

Si par value common stock vere issued in exchange for land with a fair value of s50,720. Prepare a statement of cash fous for the year ended December 31. 2017, using the indirect method. (Show amounts that decrease cash flow with either asign eg 15,000 or in parenthesis (15.00) Bramble Corm

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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