User Account

All Pages

Provide the gross book value of the ppe disposed

Assignment Help Financial Accounting
Reference no: EM132977122

Company ABC reported a gross property, plant, & equipment ("PP&E") balance in 2020 of $16,800. In 2019, the gross PP&E balance was $15,700. In 2020, the Company ABC purchased $2,200 of brand new PP&E. Also in 2020, the depreciation expense was $1,200. At the end of 2020, the accumulated depreciation was $8,150 compared to the $7,650 in 2019. There was no gain or loss on the disposition of PP&;E during 2020. The company uses straight line depreciation and the annual depreciation expense is calculated using the year's beginning balance of PP&E.

Problem 1: With that framework, provide the gross book value of the PPE disposed of in 2020, as well as the proceeds received when Company ABC sold its PP&E? (please show all calculation + inputs)

Problem 2: Furthermore, estimate the average expected life for Company ABC's depreciable PP&E at the start of 2020. Also, provide your estimate for the average age at the start of 2020. Explain your estimates (please show calculations + inputs to back up the explanation).

Reference no: EM132977122

Questions Cloud

Discuss the steps would take to address ethical dilemma : Discuss the steps you would take to address this ethical dilemma. It is not necessary to state what ethical action you would take, but be prepared
What should be the current share price : Ezzell Corporation has perpetual preferred stock outstanding that pays a dividend of $5 at the end of each year. What should be the current share price
Provide a reflection on economics : Provide a reflection on economics and how it helped develop an ethical framework that will guide your decisions - professional and personal in life - within the
What are the limitations of a corporation basing decisions : What are the limitations of a corporation basing decisions on non-shareholder stakeholders? Should corporations focus solely on shareholder value
Provide the gross book value of the ppe disposed : Provide the gross book value of the PPE disposed of in 2020, as well as the proceeds received when Company ABC sold its PP&E?
Discuss the impact of the population growth rate : Discuss the impact of the population growth rate of the U.S. on economic growth and development in the U.S. Use relevant references for you discussion.
What is the amount of bond amortization : Towson uses the straight line method to amortize any bond premium or discount. What is the amount of bond amortization for each six month period
Calculate the amount of cash flow to shareholders : During 2017, the company sold $100 worth of common stock and paid dividend amount of $150. Calculate the amount of cash flow to shareholders
Prepare a balance sheet as at january : Yamindi was raised on a farm in the Northern Territory. Prepare balance sheet as at 31 January 2020 and a statement of changes in equity for the 3-month period.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd