Condensed financial data of Bramble Company for 2017 and 2016 are presented belo

Question

Condensed financial data of Bramble Company for 2017 and 2016 are presented below BRAMBLE COMPANY COMPARATIVE BALANCE SHEET Cash Receivables Inventory Plant assets Accumulated depreciation Long-term investments (held-to-maturity) AS OF DECEMBER 31, 2017 AND 2016 2017 $1,820 1,730 1,590 1,940 2016 $1,130 1,280 1,870 1,690 (1,220) (1,180) 1,300 1,450 - $7,160-$6 $6,240 Accounts payable Accrued liabilities Bonds payable Common stock Retained earnings $1,200 190 1,430 1,930 2,410 $920 230 1,530 1,710 1,850 $7,160 $6 240 $6,240

Explanation / Answer

Working Note :

Particulars Amount (in $) Profit As per Income Statement 820 Non cash Expenses & Income Depreciation for the year (1220-1180) 40 Gain on sale of investments -90 Cash Profit 770 Cash flow from operating Activities Add: Increase in Current Liabilities & Decrease in Current assets Account Payable (1200-920) 280 Inventory (1870-1590) 280 Less: Decrease in Current Liabilities & increase in Current assets Accured Liabilities (230-190) 40 Receivables (1730-1280) 450 Cash flow from operating activities (A) 280 Cash flow from Investing Activities Sale of Investment 240 Purchase of plant assets -190 Cash flow from Investing Activities (B) 50 Cash flow from Financing Activities Redemption of bonds (1530-1430) -100 Issue of Common Stock 160 Dividend paid -260 Increase in retained Earning 560 Cash flow from Financing Activities © 360 Cash flow business activities (A+B+C) 690 Opening cash flow 1130 Closing Cash Flow statement 1820

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