Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

BRAMBLE COMPANY Comparative Balance Sheets December 31 begin{tabular}{lrr} Assets & 2022 & 2021 Cash & $36,900 & $20,000 Accounts receivable & 32,700 &

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
BRAMBLE COMPANY Comparative Balance Sheets December 31 \begin{tabular}{lrr} Assets & 2022 & 2021 \\ Cash & $36,900 & $20,000 \\ Accounts receivable & 32,700 & 18,300 \\ Inventory & 29,100 & 20,000 \\ Property, plant, and equipment & 59,600 & 78,000 \\ Accumulated depreciation & (29,700) & (23,000) \\ \hline Total & $128,600 & $113,300 \\ \hline \end{tabular} Liabilities and Stockholders' Equity Accounts payable $28,400 $16,700 Income taxes payable 7,200 8,200 Bonds payable 26,200 32,700 Common stock 17,200 13,900 Retained earnings 49,600 Total $128,600 41,800 $113,300 Additional data: 1. Depreciation expense was $16,300. 2. Dividends declared and paid were $22,760. 3. During the year, equipment was sold for $8,800 cash. This equipment originally cost $18,400 and had accumulated depreciation of $9,600 at the time of sale. 4. Bonds were redeemed at their carrying value. 5. Common stock was issued at par for cash. 5.000 Compute free cash flow. (Enter negative amount using either a negative sign preceding the number es. -45 or parentheses es. (45).) Free Cash Flow $

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Principles

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

9th Edition

978-0470317549, 9780470387085, 047031754X, 470387084, 978-0470533475

More Books

Students also viewed these Accounting questions