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Cheung Studios operates amusement parks in the United States and Canada. During 2018, it reported the following (in millions); From the income statement Loss
Cheung Studios operates amusement parks in the United States and Canada. During 2018, it reported the following (in millions); From the income statement Loss on sale of equipment Depreciation expense From the balance sheet Equipment, beginning Equipment, ending Accumulated depreciation, beginning Accumulated depreciation, ending Equipment costing $200 was purchased during the year. Required: $10 185 1,765 1,835 1,635 1,780 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.) (a) Original cost of equipment sold (b) Accumulated Depreciation-Equipment (c) Cash Received from Sale $ in million
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