Here is selected financial statement data regarding a company's property, plant, and equipment. Balance Sheet: Property,...

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Here is selected financial statement data regarding a companys property, plant, and equipment. Balance Sheet: Property, plan

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Answer 1

Answer #1

Solution:

Accumulated depreciation on PPE sold = 86000 + 90000 - 142000 = $34,000

Cost of PPE sold = book value + accumultaed depreciation = $48000 + $34000 = $82,000

Purchase of PPE = ending balance + cost of PPE sold - beginning balance

= 800000 + 82000 - 559000

= $323,000

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Answer 2

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