Reference no: EM13867164
Cedar Fair operates amusement parks in the United States and Canada. During fiscal 2013, it reported the following (in millions):
From the income statement:
Loss (gain) on sale of equipment... $ (9)
Depreciation expense... 125
Impairment of equipment... 3
From the balance sheet
Equipment, beginning... 1,450
Equipment, ending... 1,500
Accumulated depreciation, beginning... 1,160
Accumulated depreciation, ending... 1,250
Equipment costing $ 120 was purchased during the year.
Required:
For the equipment that was disposed of during the year, compute the following: (a) its original cost, (b) its accumulated depreciation, and (c) cash received from the disposal.
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Cedar fair operates amusement parks in the united states
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