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Exercise 23 16The balance sheet data of Brown Company at the end of 2014 and 2013 are shown below.2014 2013 Cash $29577 $35301 Accounts receivable

Exercise 23-16The balance sheet data of Brown Company at the end of 2014 and 2013 are shown below.2014 2013Cash $29,577 $35,301Accounts receivable (net) 54,866 45,003Inventory 65,195 45,340Prepaid expenses 14,505 24,921Equipment 89,890 75,066Accumulated depreciation—equipment (17,667 ) (8,370 )Land 69,850 40,270$306,216 $257,531Accounts payable $64,616 $52,367Accrued expenses 15,376 17,913Notes payable—bank, long-term –0– 23,327Bonds payable 30,222 –0–Common stock, $10 par 189,010 159,430Retained earnings 6,992 4,494$306,216 $257,531Land was acquired for $29,580 in exchange for common stock, par $29,580, during the year; allequipment purchased was for cash. Equipment costing $12,601 was sold for $2,840; book valueof the equipment was $5,790. Cash dividends of $8,920 were declared and paid during the year.Compute the following: (Show amounts that decrease cash flow with either a – sign e.g.-15,000 or in parenthesis e.g. (15,000).)(a) Net Cash by Operating activities. $(b) Net Cash by Investing activities. $(c) Net Cash by Financing activities. $

Jun 24 2020 View more View Less

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