Floral Stores, Inc., sells electronics and appliances. The excerpts that follow ave adapted tom Florairs financial statements for 2021 and 2020. (Click teve icon to view tha partial balance sheet and cash fow statement.) Read the requitements. Requirement 1. How thuch was Florafs cost of plant atsess at March 31, 2021? How much was the book value of plast assets? Show computations. (Enter amounts in milions as provised in the problem statement.) The cost of plant assets at March 31,2021 is miflon. Deternine the formula and enter the amounts to calculase the book value of plant assets at March 31, 2021. Requirement 2. The Enaricial statements provide thee pieces of evidence that Floral purchased plant assets and goodwil during fitcal year 2021 . What are they? 1. 2. = Book value 3. Requirement 3. T-accounts for Properfy. Plant, and Equipment; Acourthulated Depreciation; and Goodwail havo been prepared for you. Fill in the T-accounts with information frem the comparative batance sheets and cash fow stabements. Label each increase oc decrease and give is dollar amount, (Abtreviation used. Accum. Depr, = Accumulated Deprociation. Eriter amourts in mitions as provided in the protilem stakement.) Begin by completing the T-account for Property, Plant, and Equipment. Next, complese the T-acoount for Accumulated Depreciation. Finaly, complete the T-account for Goodwili, Requirement 4. Prepare the journal entry for the sale of property. plart, and equipmeet in 2021. (Recond debias firth. then credis. Eeclude explanatises from journal entries, Enter amounts in millons as seovided in the problem statement.) 1 1 12 Floral Stores, Inc., sells electronics and appliances. The excerpts that follow ave adapted tom Florairs financial statements for 2021 and 2020. (Click teve icon to view tha partial balance sheet and cash fow statement.) Read the requitements. Requirement 1. How thuch was Florafs cost of plant atsess at March 31, 2021? How much was the book value of plast assets? Show computations. (Enter amounts in milions as provised in the problem statement.) The cost of plant assets at March 31,2021 is miflon. Deternine the formula and enter the amounts to calculase the book value of plant assets at March 31, 2021. Requirement 2. The Enaricial statements provide thee pieces of evidence that Floral purchased plant assets and goodwil during fitcal year 2021 . What are they? 1. 2. = Book value 3. Requirement 3. T-accounts for Properfy. Plant, and Equipment; Acourthulated Depreciation; and Goodwail havo been prepared for you. Fill in the T-accounts with information frem the comparative batance sheets and cash fow stabements. Label each increase oc decrease and give is dollar amount, (Abtreviation used. Accum. Depr, = Accumulated Deprociation. Eriter amourts in mitions as provided in the protilem stakement.) Begin by completing the T-account for Property, Plant, and Equipment. Next, complese the T-acoount for Accumulated Depreciation. Finaly, complete the T-account for Goodwili, Requirement 4. Prepare the journal entry for the sale of property. plart, and equipmeet in 2021. (Recond debias firth. then credis. Eeclude explanatises from journal entries, Enter amounts in millons as seovided in the problem statement.) 1 1 12
