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last year ace charged $3,314,667 depreciation on the income statement of andrews. if early this year ace purchased a new depreciable asset, the effect on andrews's financial statements would be (all other items remaining equal)

Answer

"Class, it is important to note that the purchase of a depreciable asset this year will not affect the net cash from operations on Andrew's financial statements. This is because this type of purchase falls under investing activities, and will be reported as such in the cash flow statement under the investing activities section. As the purchase was made in cash, it will decrease the cash account and increase the fixed asset account by the price of the asset. The balance sheet will also be affected, as journal entries involving real accounts will be made at the time of acquisition. Please also note that the income statement will show an increase in depreciation expense recorded. Therefore, the correct answer is that there will be no impact on Net Cash from operations. For more information about cash from operations, please refer to the link provided: brainly.com/question/19712771 #SPJ4"