An analysis of the machinery accounts of Concord Company for 2024 is as follows: Balance at...
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An analysis of the machinery accounts of Concord Company for 2024 is as follows: Balance at January 1, 2024 Purchases of new machinery in 2024 for cash Depreciation in 2024 Balance at Dec. 31, 2024 Machinery $492000 190000 $682000 Accumulated Depreciation $130000 109000 $239000 Machinery, net of Accumulated Depreciation $362000 190000 (109000) $443000 The information concerning Concord's machinery accounts should be reported in Concord's statement of cash flows (indirect method) for the year ended December 31, 2024, as a(n) $190000 decrease in cash flows from investing activities. $109000 increase in cash flows from financing activities. subtraction from net income of $109000 and a $190000 decrease in cash flows from financing activities. addition to net income of $109000 and a $190000 decrease in cash flows from investing activities An analysis of the machinery accounts of Concord Company for 2024 is as follows: Balance at January 1, 2024 Purchases of new machinery in 2024 for cash Depreciation in 2024 Balance at Dec. 31, 2024 Machinery $492000 190000 $682000 Accumulated Depreciation $130000 109000 $239000 Machinery, net of Accumulated Depreciation $362000 190000 (109000) $443000 The information concerning Concord's machinery accounts should be reported in Concord's statement of cash flows (indirect method) for the year ended December 31, 2024, as a(n) $190000 decrease in cash flows from investing activities. $109000 increase in cash flows from financing activities. subtraction from net income of $109000 and a $190000 decrease in cash flows from financing activities. addition to net income of $109000 and a $190000 decrease in cash flows from investing activities
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Related Book For
Financial Reporting and Analysis
ISBN: 978-0078025679
6th edition
Authors: Flawrence Revsine, Daniel Collins, Bruce, Mittelstaedt, Leon
Posted Date:
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