The following are comparative balance sheets for Bramble Company. BRAMBLE Company Comparative Balance Sheets December 31...
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The following are comparative balance sheets for Bramble Company. BRAMBLE Company Comparative Balance Sheets December 31 Assets 2022 2021 Cash $73,500 $32,900 Accounts receivable 86,200 70,600 Inventory 169,600 187,200 Land 73,300 101.200 Equipment 259,600 200.700 Accumulated depreciation-equipment (66,400) (33,900) Total $595,800 $558.700 Liabilities and Stockholders' Equity Accounts payable $35.300 $46,600 Bonds payable 151,500 203.000 Common stock ($1 par) 217.200 174.700 Retained earnings 191,800 134.400 Total $595,800 $558,700 Additional information: 1. Net income for 2022 was $101,500. 2. Depreciation expense was $32,500. 3. Cash dividends of $44,100 were declared and paid. 4. Bonds payable with a carrying value of $51,500 were redeemed for $51,500 cash. 5. Common stock was issued at par for $42,500 cash. 6. No equipment was sold during 2022. The following are comparative balance sheets for Bramble Company. BRAMBLE Company Comparative Balance Sheets December 31 Assets 2022 2021 Cash $73,500 $32,900 Accounts receivable 86,200 70,600 Inventory 169,600 187,200 Land 73,300 101.200 Equipment 259,600 200.700 Accumulated depreciation-equipment (66,400) (33,900) Total $595,800 $558.700 Liabilities and Stockholders' Equity Accounts payable $35.300 $46,600 Bonds payable 151,500 203.000 Common stock ($1 par) 217.200 174.700 Retained earnings 191,800 134.400 Total $595,800 $558,700 Additional information: 1. Net income for 2022 was $101,500. 2. Depreciation expense was $32,500. 3. Cash dividends of $44,100 were declared and paid. 4. Bonds payable with a carrying value of $51,500 were redeemed for $51,500 cash. 5. Common stock was issued at par for $42,500 cash. 6. No equipment was sold during 2022.
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User Alex Corporation reports the following components of stockholders equity at December 31 of the prior year Common stock25 par value 70000 shares authorized 42000 shares issued and outstanding 1050... View the full answer
Related Book For
Financial Accounting Tools for Business Decision Making
ISBN: 978-1119493631
9th edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
Posted Date:
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