Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Bramble Corp. issued the following statement of cash flows for 2020. Bramble Corp. Statement of Cash Flows-Indirect Method For the Year Ended December 31, 2020

Bramble Corp. issued the following statement of cash flows for 2020. Bramble Corp. Statement of Cash Flows-Indirect Method For the Year Ended December 31, 2020 Cash flows from operating activities Net income Adjustments to reconcile net income to net cash $55,500 provided by operating activities: Depreciation expense $9,000 Loss on disposal of plant assets 8,500 Increase in inventory (5,200) Decrease in accounts receivable 3,100 Decrease in accounts payable (2,500) 12,900 Net cash provided by operating activities 68,400 Cash flows from investing activities Sale of investments 3,200 Purchase of equipment (29,000) Net cash used by investing activities (25,800) Cash flows from financing activities Issuance of stock 19,200 Payment on long-term note payable Payment for dividends (12,800) (17,200) Net cash used by financing activities (10,800) Cash flows from financing activities Issuance of stock Payment on long-term note payable Payment for dividends Net cash used by financing activities Net Increase in cash 19,200 (12,800) (17,200) (10,800) 31,800 Cash at beginning of year Cash at end of year (a) 11,800 $43,600 Compute free cash flow for Bramble Corp.. (Enter negative amount using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Free cash flow $image text in transcribedimage text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Integrated Accounting

Authors: Dale A. Klooster, Warren Allen, Glenn Owen

8th edition

1285462726, 1285462721, 978-1285462721

Students also viewed these Accounting questions