A portion of Los Pollos Hermanos’ comparative balance sheet follows. What is the amount of depreciation...
A portion of Los Pollos Hermanos’ comparative balance sheet follows. What is the amount of depreciation expense you would expect to see on the 2018 income statement? No assets that were on the books at the end of 2017 were sold or otherwise disposed of in 2018.
Los Pollos Hermanos Balance Sheet as of December 31
2017 2018
Plant and Equipment $200,000 $250,000
Less: Accumulated Depreciation ($60,000) ($70,000)
Net Plant and Equipment $140,000 $180,000
Homework Answers
rate positively ..
| its given in the question that no asset were disposed off or sold during the year. | ||||||||||
| therefore depreciation for the year 18 = Difference between FY 18 accumulated depreciation and FY 17 . | ||||||||||
| Depreciation for the year = | 10000 | |||||||||
| =70000-60000 | ||||||||||
| answer = | 10000 | |||||||||
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