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Please show Formulas! 20 E23-16 (Cash Provided by Operating, Investing, and Financing Activities) The balance sheet data of 5 Brown Company at the end of
Please show Formulas!
20 E23-16 (Cash Provided by Operating, Investing, and Financing Activities) The balance sheet data of 5 Brown Company at the end of 2014 and 2013 follow. Cash Accounts receivable (net) Inventory Prepaid expenses Equipment Accumulated depreciation-equipment Land 2014 $ 30,000 55,000 65,000 15,000 90,000 (18,000) 70,000 $307,000 2013 $ 35,000 45,000 45,000 25,000 75,000 (8,000) 40,000 $257,000 Accounts payable Accrued expenses Notes payable-bank, long-term Bonds payable Common stock, $10 par Retained earnings $ 65,000 15,000 -0- 30,000 189,000 8,000 $307,000 $ 52,000 18,000 23,000 -0- 159,000 5,000 $257,000 Land was acquired for $30,000 in exchange for common stock, par $30,000, during the year; all equipment purchased was for cash. Equipment costing $10,000 was sold for $3,000; book value of the equipment was $6,000. Cash dividends of $10,000 were declared and paid during the year. Instructions Compute net cash provided (used) by: (a) Operating activities. (b) Investing activities. (c) Financing activitiesStep by Step Solution
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