question archive The following are all changes in the account balances of Bramble Ltd
The following are all changes in the account balances of Bramble Ltd
Subject:AccountingPrice: Bought3
The following are all changes in the account balances of Bramble Ltd. during the current year, except for Retained Earnings: Increase (Decrease ) Increase (Decrease ) Cash $90,000 Accounts payable $(77,900) Accounts receivable (net) 72,000 Unearned revenue 29,000 Inventory 164,000 Bonds payable 81,900 Investments in FV-NI securities (29,000) Common shares 122,000 Contributed surplus 76,900 Calculate the net income for the current year, assuming that there were no entries in the Retained Earnings account except for net income and a dividend declaration of $20,000, which was paid in the current year. Net income for the current year $
