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The balance sheet data of Brown Company at the end of 2014 and 2013 are shown below. 2014 2013 Land was acquired for $30,220 in
The balance sheet data of Brown Company at the end of 2014 and 2013 are shown below. 2014 2013
Land was acquired for $30,220 in exchange for common stock, par $30,220, during the year; all equipment purchased was for cash. Equipment costing $12,539 was sold for $3,140; book value of the equipment was $5,970. Cash dividends of $9,380 were declared and paid during the year.
compute net cash provide(used) by:
a) Operating activities
b) investing activities
c) financing activities
2014 2013 Cash Accounts receivable (net) Inventory Prepaid expenses Equipment Accumulated depreciation-equipment Land $29,651 54,834 64,540 14,561 89,567 $34,556 44,787 44,517 24,932 74,690 (18,019) (7,809) 69,860 $304,994 39,640 $255,313 Accounts payable Accrued expenses Notes payable-bank, long-term Bonds payable Common stock, $10 par Retained earnings $65,043 15,362 $51,938 17,905 22,991 0 0 29,581 188,810 6,198 $304,994 158,590 3,889 $255,313
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