QPF Media operates amusement parks in the United States and Canada. During 2018, it reported the following (in millions): From the income statement Loss on sale of equipment Depreciation expense From the balance sheet Equipment, beginning Equipment, ending Accumulated depreciation, beginning Accumulated depreciation, ending Equipment costing $228 was purchased during the year. Required: $ 10 269 1,835 1,905 1,705 1,920 For the equipment that was disposed of during the year, compute the following: (a) its original cost, (b) its accumulated depreciation, and (c) the cash received from the disposal. (Enter your answers in millions.) Answer is not complete. (a) Original cost of equipment sold (b) Accumulated Depreciation-Equipment (c) Cash Received from Sale $ in million $158,000,000 $ 199,000,000
QPF Media operates amusement parks in the United States and Canada. During 2018, it reported the following (in millions): From the income statement Loss on sale of equipment Depreciation expense From the balance sheet Equipment, beginning Equipment, ending Accumulated depreciation, beginning Accumulated depreciation, ending Equipment costing $228 was purchased during the year. Required: $ 10 269 1,835 1,905 1,705 1,920 For the equipment that was disposed of during the year, compute the following: (a) its original cost, (b) its accumulated depreciation, and (c) the cash received from the disposal. (Enter your answers in millions.) Answer is not complete. (a) Original cost of equipment sold (b) Accumulated Depreciation-Equipment (c) Cash Received from Sale $ in million $158,000,000 $ 199,000,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Bhaliya dineshbhai mathurbhai partapara talaja bhavnagar Gujarat (ફાંડવાળા) super gadi વાળા
Transcribed Image Text:QPF Media operates amusement parks in the United States and Canada. During 2018, it reported the following (in millions):
From the income statement
Loss on sale of equipment
Depreciation expense
From the balance sheet
Equipment, beginning.
Equipment, ending
Accumulated depreciation, beginning
Accumulated depreciation, ending
Equipment costing $228 was purchased during the year.
Required:
$ 10
269
1,835
1,905
1,705
1,920
For the equipment that was disposed of during the year, compute the following: (a) its original cost, (b) its accumulated depreciation,
and (c) the cash received from the disposal. (Enter your answers in millions.)
Answer is not complete.
$ in million
$158,000,000 ×
$ 199,000,000 ×
(a) Original cost of equipment sold
(b) Accumulated Depreciation-Equipment
(c) Cash Received from Sale
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