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Cedar Fair operates amusement parks in the United States and Canada During a recent year, it reported the following (in Millions): $ (9) 126 From
Cedar Fair operates amusement parks in the United States and Canada During a recent year, it reported the following (in Millions): $ (9) 126 From the income statement Loss (kain) on sale of equipment Depreciation expense From the balance sheet Equipment, beginning Equipment, ending Accumulated depreciation, beginning Accumulated depreciation, ending 1,450 1,500 1,160 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) the cash received from the disposal. (Enter your answers in millions.)
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