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Edit View History Bookmarks Window Help edugen.wileyplus.com WileyPLUSs LUS Kimmel, Accounting, 6e dy & Practice Assignment Gradebook ORION Downloadable eTextbook n Assignment URCES Problem 12-7A (Part Level Submission) Presented below are the financial statements of Bramble Company work Bramble Company Comparative Balance Sheets December 31 2017 2016 Assets Cash Accounts receivable Inventory Property, plant, and equipment $ 78,050 $44,600 44,600 62,440 31,220 44,600 173,940 133,800 (71,360) (53,520) Total $247,530 $240,840 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total 42,370 33,450 17,840 73,590 31,220 84,740 $247,530 $240,840 15,610 37,910 40,140 111,500 Bramble Company Income Statement ntI Privacy PolicyI iley &Sons.Inc.; All Rights Reserved. A Division of 2 0 27

Explanation / Answer

Solution:

Statement of Cash Flows - Bramble Company Particulars Details Amount Cash Flow from Operating Activities: Net Income $71,360.00 Adjustments to reconcile net income to cash flow from operating activities: Depreciation $39,025.00 Increase in Accounts Receivables ($44600 - $31220) -$13,380.00 Increase in Inventory ($62440 - $44600) -$17,840.00 Increase in Accounts payable ($42370 - $33450) $8,920.00 Decrease in Income tax payable ($17,840 - $15,610) -$2,230.00 Total Adjustments $14,495.00 Net Cash Flow From Operating Activites (A) $85,855.00 Cash Flow from Investing Activities: Sale of Equipment $18,955.00 Net Cash Flow From Investing Activites (B) $18,955.00 Cash Flow from Financing Activities: Dividend paid -$44,600.00 Bonds repayment ($73,590 - $37,910) -$35,680.00 Proceed from issue of common stock ($40,140 - $31,220) $8,920.00 Net Cash Flow From Financing Activites (C) -$71,360.00 Total Cash flow from all activities (A+B+C) $33,450.00 Cash at the beginning of the year $44,600.00 Cash at the end of year $78,050.00

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