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1. In May 2017, Holiday announced the closing of its Financial Division, a decision that qualified for accounting as a discontinued operation. The Financial Division
1. In May 2017, Holiday announced the closing of its Financial Division, a decision that qualified for accounting as a discontinued operation. The Financial Division was officially closed on September 15, 2017. The equipment was disposed of on November 1, 2017 however the building will not be solduntil 2018and meets the requirements for a "held for sale" asset. Additional information related to the Financial Division is as follows: January 1 - May 1 May 1 - September tSovo $1,542,000 $1,457,000 $654,000 $826,000 Revenues Expenses January 1 Book Depreciation 2017 Selling Price Equipment Building Value $967,000 $3,150,000 $53,000 $278,000 $712,000 $3,732,000 Accumulated Depreciation on the Equipment prior to 2017 was $242,000, on the building accumulated depreciation prior to 2017 was $516,000. The revenues and expenses related to the Financial Division are included in the revenues and expenses on the trial balance. All depreciation was properly recorded for the building and equipment of the Financial Division. The disposal of the equipment and building have not been recorded. 1. In May 2017, Holiday announced the closing of its Financial Division, a decision that qualified for accounting as a discontinued operation. The Financial Division was officially closed on September 15, 2017. The equipment was disposed of on November 1, 2017 however the building will not be solduntil 2018and meets the requirements for a "held for sale" asset. Additional information related to the Financial Division is as follows: January 1 - May 1 May 1 - September tSovo $1,542,000 $1,457,000 $654,000 $826,000 Revenues Expenses January 1 Book Depreciation 2017 Selling Price Equipment Building Value $967,000 $3,150,000 $53,000 $278,000 $712,000 $3,732,000 Accumulated Depreciation on the Equipment prior to 2017 was $242,000, on the building accumulated depreciation prior to 2017 was $516,000. The revenues and expenses related to the Financial Division are included in the revenues and expenses on the trial balance. All depreciation was properly recorded for the building and equipment of the Financial Division. The disposal of the equipment and building have not been recorded
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