Addtional Infomation: Commonsharsa wars lasusd for cash. Cash Paid during the year for income tax = ? The comparative statement of Financial position of Bramble Inc. as at June 30, 2023, and a statement of comprehensive Income for the 2023 Facal year follow: Assets Accounts receivable Inventory Prepeld expenses FV-OCI Investment Equipment Accumulated depreciation equipment Liabilities and Shareholders' Equity Accounts payable Income tax payable Dividenda payable Long-term not payable Common shares Retained emings Accumulated other comprehensive Income BRAMBLE INC. Statement of Financial Position June 30, 2023 Nat Cose of goods sold Gross proft Operating expenses Income from operationa BRAMBLE INC. Statement of Comprehensive Income For the Year Ended June 30, 2023 Interest expens Income before Income tax Income taxx Net Income Other comprehensive income Unrealized gain or loss-OCI Comprehensive Income Additional Information: 2 3 S. $340,000 164,000 176,000 121,900 54,500 8,400 46,100 6,300 39,800 3,100 $ 42,900 S 2023 20,000 86,200 103,900 2,400 47,700 June 30 180,000 $ 115,000 (35.900) (24,400) $ 404,300 $ 400,200 2,200 2022 $ 40,000 72,700 101,800 6,500 44,600 199,000 4,200 82,500 30,400 158,100 11,900 $ 404,300 $ 104,500 3,700 119,000 22,100 142.100 8,800 1 Bramble follova IFRS. Assume that interest la treated as an operating activity for purposes of the statement of cash flovia. Operating expenses include $11,500 In depreciation expense There were no disposals of equipment during the year. Common shares were sued for cash During the year, Bramble acquired $7,600 of equipment in exchange for long-term notes payable $ 400,200
Addtional Infomation: Commonsharsa wars lasusd for cash. Cash Paid during the year for income tax = ? The comparative statement of Financial position of Bramble Inc. as at June 30, 2023, and a statement of comprehensive Income for the 2023 Facal year follow: Assets Accounts receivable Inventory Prepeld expenses FV-OCI Investment Equipment Accumulated depreciation equipment Liabilities and Shareholders' Equity Accounts payable Income tax payable Dividenda payable Long-term not payable Common shares Retained emings Accumulated other comprehensive Income BRAMBLE INC. Statement of Financial Position June 30, 2023 Nat Cose of goods sold Gross proft Operating expenses Income from operationa BRAMBLE INC. Statement of Comprehensive Income For the Year Ended June 30, 2023 Interest expens Income before Income tax Income taxx Net Income Other comprehensive income Unrealized gain or loss-OCI Comprehensive Income Additional Information: 2 3 S. $340,000 164,000 176,000 121,900 54,500 8,400 46,100 6,300 39,800 3,100 $ 42,900 S 2023 20,000 86,200 103,900 2,400 47,700 June 30 180,000 $ 115,000 (35.900) (24,400) $ 404,300 $ 400,200 2,200 2022 $ 40,000 72,700 101,800 6,500 44,600 199,000 4,200 82,500 30,400 158,100 11,900 $ 404,300 $ 104,500 3,700 119,000 22,100 142.100 8,800 1 Bramble follova IFRS. Assume that interest la treated as an operating activity for purposes of the statement of cash flovia. Operating expenses include $11,500 In depreciation expense There were no disposals of equipment during the year. Common shares were sued for cash During the year, Bramble acquired $7,600 of equipment in exchange for long-term notes payable $ 400,200
Century 21 Accounting General Journal
11th Edition
ISBN:9781337680059
Author:Gilbertson
Publisher:Gilbertson
Chapter15: Preparing Adjusting Entries And A Trial Balance
Section15.4: Calculating Federal Income Tax
Problem 3AYU
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Transcribed Image Text:Addtional Infomation: Commonsharsa wars lasusd for cash. Cash Paid during the year for income tax = ?
Transcribed Image Text:The comparative statement of Financial position of Bramble Inc. as at June 30, 2023, and a statement of comprehensive Income for the 2023 Facal year follow:
Assets
Accounts receivable
Inventory
Prepeld expenses
FV-OCI Investment
Equipment
Accumulated depreciation equipment
Liabilities and Shareholders' Equity
Accounts payable
Income tax payable
Dividenda payable
Long-term not payable
Common shares
Retained emings
Accumulated other comprehensive Income
BRAMBLE INC.
Statement of Financial Position
June 30, 2023
Nat
Cose of goods sold
Gross proft
Operating expenses
Income from operationa
BRAMBLE INC.
Statement of Comprehensive Income
For the Year Ended June 30, 2023
Interest expens
Income before Income tax
Income taxx
Net Income
Other comprehensive income
Unrealized gain or loss-OCI
Comprehensive Income
Additional Information:
2
3
S.
$340,000
164,000
176,000
121,900
54,500
8,400
46,100
6,300
39,800
3,100
$ 42,900
S
2023
20,000
86,200
103,900
2,400
47,700
June 30
180,000
$ 115,000
(35.900)
(24,400)
$ 404,300 $ 400,200
2,200
2022
$ 40,000
72,700
101,800
6,500
44,600
199,000
4,200
82,500
30,400
158,100
11,900
$ 404,300
$ 104,500
3,700
119,000
22,100
142.100
8,800
1 Bramble follova IFRS. Assume that interest la treated as an operating activity for purposes of the statement of cash flovia.
Operating expenses include $11,500 In depreciation expense
There were no disposals of equipment during the year.
Common shares were sued for cash
During the year, Bramble acquired $7,600 of equipment in exchange for long-term notes payable
$ 400,200
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