Module 5 Chapter 12 Mary Massengill.xlsx - Student Name...

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Student Name:Mary MassengillClass:Managerial AccountingProblem 12-8A1. and 2. Calculation of depreciation to add back to net income:Accumulated Depreciation, beginning balance$ 70 Correct!Accumulated Depreciation, ending balance$ 85 Correct!Debits to Accumulated Depreciation$ 10 Correct!Credits to Accumulated Depreciation$ 25 Correct!Changes in noncash balance sheet accounts that impact net income:Increase inDecrease inAccountAccountCurrent AssetsBalanceBalanceAccounts receivable(80)Correct!Inventory35 Correct!Prepaid expenses(2)Correct!Current LiabilitiesAccounts Payable75 Correct!Accrued liabilities(10)Correct!Income taxes payable8 Correct!Changes in noncash balance sheet accounts that impact investing and financing:Increase inDecrease inAccountAccountNoncurrent AssetsBalanceBalanceProperty, plant, and equipment(80)Correct!Long-term investments7 Correct!Liabilities and Stockholders' equityBonds payable25 Correct!

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