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Gems Inc. has the following account balances (in thousands): 2020 1,000 (330) 450 (130) 2019 Buildings Accum. dep-buildings Machinery Accum, dep-machinery The following occurred in 2020: There was a building addition for $280 thousand. Machinery was purchased for $90 thousand. Equipment with an original cost of $20 thousand and related accumulated depreciation of $10 thousand was sold or $15 thousand cash. What is the change in non-cash working capital as a result of these transactions changes? Write the word "increase" or "decrease" 720 (220) 380 (100) A/ What is the amount (no dollar sign, round to whole

Gems Inc. has the following account balances (in thousands): 2020 1,000 (330) 450 (130) 2019 Buildings Accum. dep-buildings Machinery Accum, dep-machinery The following occurred in 2020: There was a building addition for $280 thousand. Machinery was purchased for $90 thousand. Equipment with an original cost of $20 thousand and related accumulated depreciation of $10 thousand was sold or $15 thousand cash. What is the change in non-cash working capital as a result of these transactions changes? Write the word "increase" or "decrease" 720 (220) 380 (100) A/ What is the amount (no dollar sign, round to whole

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Gems Inc. has the following account balances (in thousands): Buildings Accum. dep-buildings Machinery Accum, dep-machinery 2020 1,000 (330) 450 (130) 2019 720 (220) 380 (100) The following occurred in 2020: 1.There was a building addition for $280 thousand. 2. Machinery was purchased for $90 thousand. 3. Equipment with an original cost of $20 thousand and related accumulated depreciation of $10 thousand was sold for $15 thousand cash. What is the change in non-cash working capital as a result of these transactions changes? Write the word "increase" or "decrease" number, use a comma where needed)? A/ What is the amount (no dollar sign, round to whole A/
Transcribed Image Text:Gems Inc. has the following account balances (in thousands): Buildings Accum. dep-buildings Machinery Accum, dep-machinery 2020 1,000 (330) 450 (130) 2019 720 (220) 380 (100) The following occurred in 2020: 1.There was a building addition for $280 thousand. 2. Machinery was purchased for $90 thousand. 3. Equipment with an original cost of $20 thousand and related accumulated depreciation of $10 thousand was sold for $15 thousand cash. What is the change in non-cash working capital as a result of these transactions changes? Write the word "increase" or "decrease" number, use a comma where needed)? A/ What is the amount (no dollar sign, round to whole A/
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