ACC 206

Strayer University ACC 206 Week 1 to Week 11 Complete Course

ACC 206 WEEK 1 6. Equipment transaction and cash flow reporting Dec. 31, 20X4 Dec. 31, 20X3 Property, Plant & Equipment: Land $94,000 $94,000 Equipment 652,000 527,000 Less: Accumulated depreciation -316,000 -341,000 New equipment purchased during 20x4 totaled $280,000. The 20x4 income statement disclosed equipment depreciation expense of $41,000 and a $9,000 loss on the sale of equipment. a. Determine the cost and accumulat

ACC 206 WEEK 1 4. Overview of direct and indirect methods Evaluate the comments that follow as being True or False. If the comment is false, briefly explain why. a. Both the direct and indirect methods will produce the same cash flow from operating activities b. Depreciation expense is added back to net income when the indirect method is used. One of the advantages of using the direct method rather than the indirect method is that larger ca

ACC 206 WEEK 1 Answer the following questions: Why are noncash transactions, such as the exchange of common stock for a building for example, included on a statement of cash flows? How are these noncash transactions disclosed? Answer