In its 2024 annual report to shareholders, Buffalo Burgers Company, Incorporated, included the following in a...

 

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In its 2024 annual report to shareholders, Buffalo Burgers Company, Incorporated, included the following in a disclosure note: E. Property, Plant, and Equipment Property, plant, and equipment for the years ended December 28, 2024, and December 29, 2023, consisted of the following ($ in thousands): Machinery and plant equipment Kegs Land Building and building improvements office equipment and furniture Leasehold improvements. Less: accumulated depreciation 2824 $ 259,664 60,350 23,260 44,234 14,581 7,680 409,689 143,131 $ 266,558 Cash flows for investing activities: Purchases of property, plant, and equipment Proceeds on disposal of property, plant, and equipment 2023 $ 183,828 46,899 24,515 36,667 12,580 6,193 310,682 120,734 $ 189,948 The Company recorded depreciation related to these assets of $23,565 in the 2024 fiscal year Also, Buffalo Burgers reported the following information in the annual report ($ in thousands): Years ended 12/28/2824 $ (100,655) $ 18 12/29/2023 $ (66,010) $ 41 Required: Use a T-account to show the balances and changes during 2024 in Buffalo Burgers' Property. Plant, and Equipment account and its Accumulated Depreciation-Property, Plant, and Equipment account. In its 2024 annual report to shareholders, Buffalo Burgers Company, Incorporated, included the following in a disclosure note: E. Property, Plant, and Equipment Property, plant, and equipment for the years ended December 28, 2024, and December 29, 2023, consisted of the following ($ in thousands): Machinery and plant equipment Kegs Land Building and building improvements office equipment and furniture Leasehold improvements. Less: accumulated depreciation 2824 $ 259,664 60,350 23,260 44,234 14,581 7,680 409,689 143,131 $ 266,558 Cash flows for investing activities: Purchases of property, plant, and equipment Proceeds on disposal of property, plant, and equipment 2023 $ 183,828 46,899 24,515 36,667 12,580 6,193 310,682 120,734 $ 189,948 The Company recorded depreciation related to these assets of $23,565 in the 2024 fiscal year Also, Buffalo Burgers reported the following information in the annual report ($ in thousands): Years ended 12/28/2824 $ (100,655) $ 18 12/29/2023 $ (66,010) $ 41 Required: Use a T-account to show the balances and changes during 2024 in Buffalo Burgers' Property. Plant, and Equipment account and its Accumulated Depreciation-Property, Plant, and Equipment account.

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