Bramble Corp. reported net income of $206,930 for 2017. Bramble Corp. also repor
ID: 2588430 • Letter: B
Question
Bramble Corp. reported net income of $206,930 for 2017. Bramble Corp. also reported depreciation expense of $33,830 and a loss of $4,940 on the disposal of plant assets. The comparative balance sheets show an increase in accounts receivable of $15,280 for the year, a $16,620 increase in accounts payable, and a $4,190 increase in prepaid expenses.
Prepare the operating activities section of the statement of cash flows for 2017. Use the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
Adjustments to reconcile net income to
Bramble Corp.Partial Statement of Cash Flows
December 31, 2017For the Year Ended December 31, 2017For the Quarter Ended December 31, 2017
Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash used by Financing ActivitiesNet Cash used by Investing ActivitiesNet Cash used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Decrease in Accounts Payable Decrease in Accounts Receivable Decrease in Prepaid Expenses Depreciation Expense Gain on Disposal of Plant Assets Increase in Accounts Payable Increase in Accounts Receivable Increase in Prepaid Expenses Loss on Disposal of Plant Assets Net Income
$Adjustments to reconcile net income to
Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash used by Financing ActivitiesNet Cash used by Investing ActivitiesNet Cash used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Decrease in Accounts Payable Decrease in Accounts Receivable Decrease in Prepaid Expenses Depreciation Expense Gain on Disposal of Plant Assets Increase in Accounts Payable Increase in Accounts Receivable Increase in Prepaid Expenses Loss on Disposal of Plant Assets Net Income
$Decrease in Accounts Payable Decrease in Accounts Receivable Decrease in Prepaid Expenses Depreciation Expense Gain on Disposal of Plant Assets Increase in Accounts Payable Increase in Accounts Receivable Increase in Prepaid Expenses Loss on Disposal of Plant Assets Net Income
Decrease in Accounts Payable Decrease in Accounts Receivable Decrease in Prepaid Expenses Depreciation Expense Gain on Disposal of Plant Assets Increase in Accounts Payable Increase in Accounts Receivable Increase in Prepaid Expenses Loss on Disposal of Plant Assets Net Income
Decrease in Accounts Payable Decrease in Accounts Receivable Decrease in Prepaid Expenses Depreciation Expense Gain on Disposal of Plant Assets Increase in Accounts Payable Increase in Accounts Receivable Increase in Prepaid Expenses Loss on Disposal of Plant Assets Net Income
Decrease in Accounts Payable Decrease in Accounts Receivable Decrease in Prepaid Expenses Depreciation Expense Gain on Disposal of Plant Assets Increase in Accounts Payable Increase in Accounts Receivable Increase in Prepaid Expenses Loss on Disposal of Plant Assets Net Income
Cash at Beginning of Period Cash at End of Period Cash Flows from Financing Activities Cash Flows from Investing Activities Cash Flows from Operating Activities Net Cash Provided by Financing Activities Net Cash Provided by Investing Activities Net Cash Provided by Operating Activities Net Cash used by Financing Activities Net Cash used by Investing Activities Net Cash used by Operating Activities Net Decrease in Cash Net Increase in Cash
$Explanation / Answer
Bramble Corp. Partial Statement of Cash Flows For the Year Ended December 31, 2017 Cash Flows from Operating Activities Net income 206930 Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense 33830 Loss on Disposal of Plant Assets 4940 Increase in Accounts Receivable -15280 Increase in Accounts Payable 16620 Increase in Prepaid Expenses -4190 35920 Net Cash Provided by Operating Activities 242850
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