An Analysis of Changes in Selected Statement of Financial Position

question 79

Multiple Choice

An analysis of changes in selected statement of financial position accounts of Hierarchy Corporation shows the following for the current year:
$\begin{array} { | c | l | } \hline \text { Property, Plant, and Equipment accounts: } & \\\hline \text { Debit entries to asset accounts } & \$ 504,000 \\\hline \text { Credit entries to asset accounts } & \$ 768,000 \\\hline \begin{array} { c } \text { Debit entries to accumulated depreciation accounts } \\\text { (resulting from sale of PPE assets) }\end{array} & \$ 72,000 \\\hline \begin{array} { c } \text { Credit entries to accumulated depreciation accounts } \\\text { (representing depreciation for the current year) }\end{array} & \$ 192,000 \\\hline\end{array}$ Hierarchy's income statement for the current year includes a $9,600 gain on disposal of property, plant, and equipment. All payments and proceeds relating to purchase or sale of property, plant, and equipment were in cash.

-Total cash proceeds received by Hierarchy from sales of property, plant, and equipment during the current year amounted to:

• A) $696,000.
• B) $705,600.
• C) $633,600.
• D) $768,000.

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Definitions:

"Stages of Change" Model

A psychological model that outlines the steps individuals typically go through when changing behavior, ranging from precontemplation to maintenance.

Enabling Factors

Conditions or resources required to facilitate the implementation of health promoting or hindering behaviors.

Self-Efficacy

A person's belief in their own ability to succeed in specific situations or accomplish a task.

External Locus of Control

A belief system in which individuals perceive their successes or failures to be a result of external forces or luck rather than their own efforts.