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  • The Excerpts That Follow Are Adapted From Financial Statements of

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    Muhammad Shahid
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    The document contains excerpts from the financial statements of a Canadian not-for-profit organization. It lists four requirements: 1) computing the cost and carrying amount of property, plant, and equipment as of March 31, 2017. 2) Identifying evidence from the statements that the entity purchased property and sold long-term investments during 2017. 3) Preparing T-accounts to show activity in property, plant, and equipment, accumulated depreciation, and long-term investments accounts during 2017. 4) Explaining why depreciation is added to net income on the statement of cash flows.

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    The Excerpts That Follow Are Adapted From Financial Statements Of

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    The document contains excerpts from the financial statements of a Canadian not-for-profit organization. It lists four requirements: 1) computing the cost and carrying amount of property, plant, and equipment as of March 31, 2017. 2) Identifying evidence from the statements that the entity purchased property and sold long-term investments during 2017. 3) Preparing T-accounts to show activity in property, plant, and equipment, accumulated depreciation, and long-term investments accounts during 2017. 4) Explaining why depreciation is added to net income on the statement of cash flows.

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    © All Rights Reserved
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    3 views2 pages

    The Excerpts That Follow Are Adapted From Financial Statements of

    Uploaded by

    Muhammad Shahid
    The document contains excerpts from the financial statements of a Canadian not-for-profit organization. It lists four requirements: 1) computing the cost and carrying amount of property, plant, and equipment as of March 31, 2017. 2) Identifying evidence from the statements that the entity purchased property and sold long-term investments during 2017. 3) Preparing T-accounts to show activity in property, plant, and equipment, accumulated depreciation, and long-term investments accounts during 2017. 4) Explaining why depreciation is added to net income on the statement of cash flows.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    The excerpts that follow are adapted from financial

    statements of #6674
    The excerpts that follow are adapted from financial statements of

    The excerpts that follow are adapted from financial statements of a Canadian not-for profit
    organization.

    Requirements

    1. How much was the entity's cost of property, plant, and equipment at March 31, 2017? How
    much was the carrying amount of property, plant, and equipment? Show computations.

    2. The financial statements give four pieces of evidence that the entity purchased property,
    plant, and equipment and sold long-term investments during 2017. What is the evidence?

    3. Prepare T-accounts for Property, Plant and Equipment, Accumulated Depreciation, and Long-
    Term Investments. Then show all the activity in these accounts during 2017. Label each
    increase or decrease and give its dollar amount.

    4. Why is depreciation added to net income on the statement of cash flows?

    1/2
    The excerpts that follow are adapted from financial statements of

    ANSWER
    http://paperinstant.com/downloads/the-excerpts-that-follow-are-adapted-from-financial-
    statements-of/

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