Required information [The following information applies to the questions displayed below.] The plant assets section of the comparative balance sheets of Anders Company is reported below. Plant assets Equipment ANDERS COMPANY Comparative Year-End Balance Sheets 2021 $ 180,000 (100,000) 2020 $ 80,000 $ 270,000 (210,000) $ 60,000 Accumulated depreciation-Equipment Equipment, net Buildings $ 380,000 Accumulated depreciation-Buildings Buildings, net (100,000) $ 400,000 (285,000) $ 280,000 $ 115,000 During 2021, a building with a book value of $70,000 and an original cost of $300,000 was sold at a gain of $60,000. 1. How much cash did Anders receive from the sale of the building? 2. How much depreciation expense was recorded on buildings during 2021? 3. What was the cost of buildings purchased by Anders during 2021? 1. Cash received from the sale of building 2. Depreciation expense 3. Purchase of building

Required information [The following information applies to the questions displayed below.] The plant assets section of the comparative balance sheets of Anders Company is reported below. Plant assets Equipment ANDERS COMPANY Comparative Year-End Balance Sheets 2021 $ 180,000 (100,000) 2020 $ 80,000 $ 270,000 (210,000) $ 60,000 Accumulated depreciation-Equipment Equipment, net Buildings $ 380,000 Accumulated depreciation-Buildings Buildings, net (100,000) $ 400,000 (285,000) $ 280,000 $ 115,000 During 2021, a building with a book value of $70,000 and an original cost of $300,000 was sold at a gain of $60,000. 1. How much cash did Anders receive from the sale of the building? 2. How much depreciation expense was recorded on buildings during 2021? 3. What was the cost of buildings purchased by Anders during 2021? 1. Cash received from the sale of building 2. Depreciation expense 3. Purchase of building

Financial Reporting, Financial Statement Analysis and Valuation

8th Edition

ISBN:9781285190907

Author:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

Publisher:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

Chapter8: Investing Activities

Section: Chapter Questions

Problem 1.3AIC: Estimate the average total estimated useful life of depreciable property, plant, and equipment....

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Required information (The following information applies to the questions displayed below.) The plant assets section of the comparative balance sheets of Anders Company is reported below. ANDERS COMPANY Comparative Year-End Balance Sheets 2021 2020 Plant assets Equipment Accumulated depreciation-Equipment Equipment, net Buildings Accumulated depreciation-Buildings $ 180,000 (100,000) $ 80,000 $ 380, 000 (100,000) $ 280,000 $ 270,000 (210,000) $ 60, 000 $ 400,000 (285,000) $ 115,000 Buildings, net During 2021, equipment with a book value of $40,000 and an original cost of $210,000 was sold at a loss of $3,000. 1. How much cash did Anders receive from the sale of equipment? 2. How much depreciation expense was recorded on equipment during 2021? 3. What was the cost of new equipment purchased by Anders during 2021? 1. Cash received from the sale of equipment 2. Depreciation expense 3. Purchase of equipment
Use the following information for the Quick Study below. (Algo) [The following information applies to the questions displayed below) The plant assets section of the comparative balance sheets of Anders Company is reported below. ANDERS COMPANY Comparative Year-End Balance Sheets Plant assets Equipment Accumulated depreciation-Equipment Equipment, net Buildings Accumulated depreciation-Buildings Buildings, net 2020 $ 220,000 (116,000) $ 104,000 $ 420,000 (124,000) $ 296,000 QS 12-11 (Algo) Computing investing cash flows LO P3 1. Cash received from the sale of building. 2 Depreciation expense 3 Purchase of building 2019 $ 310,000 (226,000) $ 84,000 $ 440,000 (309,000) $ 131,000 During 2020, a building with a book value of $78,000 and an original cost of $340,000 was sold at a gain of $68,000. 1. How much cash did Anders receive from the sale of the building? 2. How much depreciation expense was recorded on buildings during 2020? 3. What was the cost of buildings purchased by Anders…
[The following information applies to the questions displayed below.] The plant assets section of the comparative balance sheets of Anders Company is reported below. ANDERS COMPANY Comparative Year-End Balance Sheets 2021 2020 Plant assets Equipment $ 290,000 $ 380,000 Accumulated depreciation—Equipment (144,000) (254,000) Equipment, net $ 146,000 $ 126,000 Buildings $ 490,000 $ 510,000 Accumulated depreciation—Buildings (166,000) (351,000) Buildings, net $ 324,000 $ 159,000 QS 12-11 (Algo) Computing investing cash flows LO P3 During 2021, a building with a book value of $92,000 and an original cost of $410,000 was sold at a gain of $82,000. How much cash did Anders receive from the sale of the building? How much depreciation expense was recorded on buildings during 2021? What was the cost of buildings purchased by Anders during 2021?
Required information Skip to question [The following information applies to the questions displayed below.]The plant assets section of the comparative balance sheets of Anders Company is reported below. ANDERS COMPANY Comparative Year-End Balance Sheets 2021 2020 Plant assets Equipment $ 200,000 $ 290,000 Accumulated depreciation—Equipment (108,000) (218,000) Equipment, net $ 92,000 $ 72,000 Buildings $ 400,000 $ 420,000 Accumulated depreciation—Buildings (112,000) (297,000) Buildings, net $ 288,000 $ 123,000 During 2021, equipment with a book value of $44,000 and an original cost of $230,000 was sold at a loss of $3,800. 1. How much cash did Anders receive from the sale of equipment?2. How much depreciation expense was recorded on equipment during 2021?3. What was the cost of new equipment purchased by Anders during 2021?
Required information [The following information applies to the questions displayed below.] The plant assets section of the comparative balance sheets of Anders Company is reported below. ANDERS COMPANY Comparative Year-End Balance Sheets 2021 Plant assets Equipment Accumulated depreciation-Equipment Equipment, net Buildings Accumulated depreciation-Buildings Buildings, net 1. Cash received from the sale of equipment 2. Depreciation expense 3. Purchase of equipment $ 180,000 (100,000) $ 80,000 $ $ 380,000 (100,000) $ 280,000 During 2021, equipment with a book value of $40,000 and an original cost of $210,000 was sold at a loss of $3,000. 1. How much cash did Anders receive from the sale of equipment? 2. How much depreciation expense was recorded on equipment during 2021? 3. What was the cost of new equipment purchased by Anders during 2021? 2020 37,000 $ 270,000 (210,000) $ 60,000 $ 400,000 (285,000) $ 115,000
Required information [The following information applies to the questions displayed below.] The plant assets section of the comparative balance sheets of Anders Company is reported below. ANDERS COMPANY Comparative Year-End Balance Sheets 2021 Plant assets Equipment Accumulated depreciation-Equipment Equipment, net Buildings Accumulated depreciation-Buildings Buildings, net 1. Cash received from the sale of building 2. Depreciation expense 3. Purchase of building $ 180,000 (100,000) $ 80,000 $ 130,000 $ 380,000 (100,000) $ 280,000 2020 $ 270,000 (210,000) $ 60,000 During 2021, a building with a book value of $70,000 and an original cost of $300,000 was sold at a gain of $60,000. 1. How much cash did Anders receive from the sale of the building? 2. How much depreciation expense was recorded on buildings during 2021? 3. What was the cost of buildings purchased by Anders during 2021? $ 400,000 (285,000) $ 115,000
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Required information [The following information applies to the questions displayed below.] The plant assets section of the comparative balance sheets of Anders Company is reported below. ANDERS COMPANY Comparative Year-End Balance Sheets 2021 Plant assets Equipment Accumulated depreciation Equipment Equipment, net Buildings Accumulated depreciation-Buildings Buildings, net $ 245,000 (125,000) $ 119,000 1 Cash received from the sale of building 2. Depreciation expense 3 Purchase of building $ 445,000 (139,000) $306,000 2020 $335,000 (236,000) $ 99,000 $ 465,000 (324,000) $ 141,000 During 2021, a building with a book value of $83,000 and an original cost of $365,000 was sold at a gain of $73,000. 1. How much cash did Anders receive from the sale of the building? 2. How much depreciation expense was recorded on buildings during 2021? 3. What was the cost of buildings purchased by Anders during 2021?
The draft balance sheet of Tere Corporation as of December 31, 2019 reported the net property, plant and equipment at P110,000,000. Details of the amount follow: Land at cost P10,000,000Building at cost P50,000,000Less accumulateddepreciation at 12/31/18 (20,000,000) 30,000,000Plant at cost 94,500,000Less accumulateddepreciation at 12/31/18 (24,500,000) 70,000,000 110,000,000The following matters are relevant:• On 30 June 2019, Tere terminated the production of one of its product lines. From this date, the plant used to manufacture the product has been actively marketed at an advertised price of P4.2 million which is considered realistic. Assume that this plant qualified as held for sale in accordance withPFRS 5. It is…
If you are told that LSJ Company’s plant property and equipment value at 12/31/2023 is $750,000 of the company’s total assets of $1,000,000 …Apply your vertical analysis skills and calculate what percentage the PPE represents of total assets.
At December 31, 2022, Flounder Company reported the following as plant assets. Land Buildings Less: Accumulated depreciation-buildings Equipment Less: Accumulated depreciation-equipment Total plant assets April 1 May 1 June 1 $27,650,000 13,740,000 During 2023, the following selected cash transactions occurred. July 1 Dec. 31 48,010,000 4,600,000 $3,590,000 13,910,000 43,410,000 $60,910,000 Purchased land for $2,170,000. Sold equipment that cost $1,080,000 when purchased on January 1, 2019. The equipment was sold for $648,000. Sold land purchased on June 1, 2013 for $1,410,000. The land cost $402,000. Purchased equipment for $2,370,000. Retired equipment that cost $503,000 when purchased on December 31, 2013.
The following data were included in a recent Mango, Incorporated annual report ($ in millions): Net sales In millions Net property, plant, and equipment Required: 2017 $ 189,234 34,783 2018 2019 $ 225,595 $ 220,174 47,304 34,378 2020 $ 284,515 35,766 Compute Mango's fixed asset turnover ratio for 2018, 2019, and 2020. Note: Do not round intermediate calculations. Round your final answers to 2 decimal places. 2018 2019 Fixed asset turnover ratio 2020