Presented below is a condensed version of the comparative balance sheets for Bramble Corporation for the last two years at December 31. 2017 2016 Cash $178,500 $49,000 Accounts receivable 115,900 76,800 Investments 68,900 98,300 Equipment 350,900 177,300 Accumulated depreciation—equipment (95,100) (65,700) Current liabilities 135,300 91,900 Common stock 142,500 62,500 Retained earnings 333,700 173,700
Presented below is a condensed version of the comparative balance sheets for Bramble Corporation for the last two years at December 31. 2017 2016 Cash $178,500 $49,000 Accounts receivable 115,900 76,800 Investments 68,900 98,300 Equipment 350,900 177,300 Accumulated depreciation—equipment (95,100) (65,700) Current liabilities 135,300 91,900 Common stock 142,500 62,500 Retained earnings 333,700 173,700
Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter15: Investments And Fair Value Accounting
Section: Chapter Questions
Problem 18E
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Presented below is a condensed version of the comparative balance sheets for Bramble Corporation for the last two years at December 31.
Additional information:
Investments were sold at a gain of $10,300; no investments were purchased; no equipment was sold; cash dividends paid were $43,500; and net income was $203,500.
2017
|
2016
|
|||
---|---|---|---|---|
Cash | $178,500 | $49,000 | ||
Accounts receivable | 115,900 | 76,800 | ||
Investments | 68,900 | 98,300 | ||
Equipment | 350,900 | 177,300 | ||
(95,100) | (65,700) | |||
Current liabilities | 135,300 | 91,900 | ||
Common stock | 142,500 | 62,500 | ||
333,700 | 173,700 |
Additional information:
Investments were sold at a gain of $10,300; no investments were purchased; no equipment was sold; cash dividends paid were $43,500; and net income was $203,500.
Prepare a statement of cash flows for 2017 for Bramble Corporation. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
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