FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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The current sections of Bramble Inc.’s balance sheets at December 31, 2021 and 2022, are presented here. Bramble’s net income for 2022 was $151,400. Depreciation expense was $27,200.

   
2022
 
2021
Current assets
       
   Cash
 
$103,000
 
$97,100
   Accounts receivable
 
80,000
 
90,800
   Inventory
 
169,000
 
171,500
   Prepaid expenses
 
26,000
 
22,000
      Total current assets
 
$378,000
 
$381,400
Current liabilities
       
   Accrued expenses payable
 
$14,500
 
$9,100
   Accounts payable
 
84,500
 
95,600
      Total current liabilities
 
$99,000
 
$104,700


Prepare the operating activities section of the company’s statement of cash flows for the year ended December 31, 2022, using the indirect method. (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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