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).
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).
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
The current sections of Bramble Inc.’s
|
2022
|
2021
|
|||
|---|---|---|---|---|
|
Current assets
|
||||
|
Cash
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$103,000
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$97,100
|
||
|
|
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
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