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Question 154

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An analysis of changes in selected balance sheet accounts of Hierarchy Corporation shows the following for the current year:
[The following information applies to the questions displayed below.] An analysis of changes in selected balance sheet accounts of Hierarchy Corporation shows the following for the current year:    Hierarchy's income statement for the current year includes a $9,600 gain on disposal of plant assets.All payments and proceeds relating to purchase or sale of plant assets were in cash. -The amount of cash paid by Hierarchy to acquire plant assets during the current year was: A) $252,000. B) $504,000. C) $724,000. D) $768,000. Hierarchy's income statement for the current year includes a $9,600 gain on disposal of plant assets.All payments and proceeds relating to purchase or sale of plant assets were in cash.
-The amount of cash paid by Hierarchy to acquire plant assets during the current year was:


A) $252,000.
B) $504,000.
C) $724,000.
D) $768,000.

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