Reference no: EM132813927
Bridge Corporation had the following transactions during the current financial reporting period.
Net Loss ($76,000)
Depreciation $16,000
Decrease in accounts receivable $24,500
Increase in inventories $12,800
Increase in accounts payable $32,000
Decrease in income taxes payable $31,500
Decrease in wages payable $16,500
Proceeds on Sale of Equipment $65,000
Repayment of bonds $49,000
Issuance of Common shares $21,000
Proceeds on sale of land $57,000
Loss on sale of land $16,000
Payment of dividends $20,000
Required:
Problem 1: Determine the cashflow for Operating, Financing and Investing activities for the company and calculate the net change in cash.
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Prepare equity section of bridge corporation balance sheet
: Profit for the year ending December 31, 2020 was $31,000. Prepare the equity section of Bridge Corporation balance sheet at December 31, 2020.
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