Question
The balance sheet data of Brown Company at the end of 2020 and 2019 are shown below. 2020 2019 Cash $30,000 $35,000 Accounts receivable (net)
The balance sheet data of Brown Company at the end of 2020 and 2019 are shown below.
2020 | 2019 | |||||
Cash | $30,000 | $35,000 | ||||
Accounts receivable (net) | 55,000 | 45,000 | ||||
Inventory | 65,000 | 45,000 | ||||
Prepaid expenses | 15,000 | 25,000 | ||||
Equipment | 90,000 | 75,000 | ||||
Accumulated depreciationequipment | (18,000 | ) | (8,000 | ) | ||
Land | 70,000 | 40,000 | ||||
$307,000 | $257,000 | |||||
Accounts payable | $65,000 | $52,000 | ||||
Accrued expenses | 15,000 | 18,000 | ||||
Notes payablebank, long-term | 0 | 23,000 | ||||
Bonds payable | 30,000 | 0 | ||||
Common stock, $10 par | 189,000 | 159,000 | ||||
Retained earnings | 8,000 | 5,000 | ||||
$307,000 | $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. Compute net cash provided (used) by: (Show amounts that decrease cash flow with either a - sign e.g. -12,000 or in parenthesis e.g. (12,000).)
(a) | Net Cash used/provided by operating activities. | $ | ||
(b) | Net Cash used/provided by investing activities. | $ | ||
(c) | Net Cash used/provided by financing activities. | $ |
PSA- The answer is not 22000,(25000) and (2000)
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