Accy 501 B Final Exam - Accounting Analysis

This study source was downloaded by 100000859819779 from CourseHero.com on 02-26-2023 13:40:00 GMT -06:00https://www.coursehero.com/file/188823123/ACCY501B-FinalExamdocx/ Question 37 In its 2021 annual report to shareholders, Buffalo Burgers Company, Inc., included the following in a disclosure note: E. Property, Plant, and Equipment Property, plant, and equipment for the years ended December 28, 2021, and December 29, 2020, consisted of the following ($ in thousands): 2021 2020Machinery and plant equipment $259,664 $183,828Kegs 60,350 46,899Land 23,260 24,515Building and building improvements 44,234 36,667Office equipment and furniture 14,581 12,580Leasehold improvements 7,600 6,193 409,689 310,682Less: accumulated depreciation 143,131 120,734 $266,558 $189,948 The Company recorded depreciation related to these assets of $43,565 in the 2021 fiscal year. Company UseThis study source was downloaded by 100000859819779 from CourseHero.com on 02-26-2023 13:40:00 GMT -06:00https://www.coursehero.com/file/188823123/ACCY501B-FinalExamdocx/Also, Buffalo Burgers reported the following information in the annual report ($ in thousands): Years ended 12/28/2021 12/29/2020 Cash flows for investing activities: Purchases of property, plant, and equipment $(150,655) $(66,010) Proceeds on disposal of property, plant, and equipment $18 $41 (REQUIRED) Use a T-account to show the balances and changes during 2021 in Buffalo Burgers' Property, Plant, and Equipment account and its Accumulated DepreciationProperty, Plant, and Equipment account.Answer: ($ in thousands) Property Plant & Equipment Beg. Balance