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I need assistance calculating the average useful life of depreciable assets, Calculate the estimate of the percent used up of depreciable assets, and to calculate
I need assistance calculating the average useful life of depreciable assets, Calculate the estimate of the percent used up of depreciable assets, and to calculate gain or loss on the disposal? please
Husky Enefgy is one of Canada's largest integrated enetgy companies. Based in Calgary. Alberta. Husky is publicly traded on the Torooto stock. Exchange. The Compatiry operates statements: During 2018 , the company reported depreciation expense of $2.591 million, The property and equipment foatnote follows. a. Compute the average useful life of Husky Energy's depreciable assets in 2018. Assume that land is 10\% of "Refining" Note: Round youn answer to one decimal place (for example enter 6.8 for 6.77555). x years b. Estimate the percent used up of Husky Energys depreciable assets in 2018 Note: Round percentage to one decimal place (for example, enter 6.75 for 6.6555% ). C. Consider the disposals and derecognition during the year. This refers to assets that were sold and removed from the balance sheet during 2018 , Calculate the not bookvalu of the total PPE disposed during the yeat. Assume that Hushy Energy recelved $4 million cash proceeds for the year. Determine the jgain or loss on the disposal. Property, Plant and Equipment (in CS millions) Properties and Storage Dec 31, 2017 Additions Acquisitions Transfers from exploration and evaluation Intersegment transfers Changes in asset retirement obligations Disposals and derecognition Exchange adjustments Dec 31,2018 Accumulated depletion, depreciation, amortization, and impairment Dec 31,2017 Depletion, depreciation, amortization, and impairment Disposals and derecognition Exchange adjustments Dec. 31,2018 \begin{tabular}{|c|c|c|c|c|c|} \hline$43,488 & $89 & $2,703 & $9,559 & $3,047 & $58,886 \\ \hline 2,465 & 12 & 62. & 744 & 151 & 3,434 \\ \hline 64 & - & - & 3 & - & 67 \\ \hline 79 & - & - & - & - & 79 \\ \hline - & - & - & (5) & 5 & \\ \hline 43 & 2 & (2) & (5) & 7 & 45 \\ \hline (632) & - & - & (10) & (1) & (643) \\ \hline 362 & 1 & = & 773 & 3 & 1,139 \\ \hline$45,869 & $104 & $2,763 & $11,059 & $3,212 & $63,007 \\ \hline$(26,016) & s(47) & 3(1,462) & s(3,176) & $(1,842) & s(32,543) \\ \hline(1.811) & (2) & (123) & (503) & (152) & (2,591) \\ \hline 586 & - & - & 10 & - & 596 \\ \hline (138) & (1) & = & (264) & (1) & (404) \\ \hline$(27,379) & s(50) & (1,585) & s(3,933) & s(1,995) & s(34,942) \\ \hline$17,472 & $42 & $1,241 & 56,383 & 51,205 & 526,343 \\ \hline 18,490 & 54 & 1,178 & 7.126 & 1,217 & 28,065 \\ \hline \end{tabular} Net book value Deci 31, 2017 Dec. 31,2018 Husky Enefgy is one of Canada's largest integrated enetgy companies. Based in Calgary. Alberta. Husky is publicly traded on the Torooto stock. Exchange. The Compatiry operates statements: During 2018 , the company reported depreciation expense of $2.591 million, The property and equipment foatnote follows. a. Compute the average useful life of Husky Energy's depreciable assets in 2018. Assume that land is 10\% of "Refining" Note: Round youn answer to one decimal place (for example enter 6.8 for 6.77555). x years b. Estimate the percent used up of Husky Energys depreciable assets in 2018 Note: Round percentage to one decimal place (for example, enter 6.75 for 6.6555% ). C. Consider the disposals and derecognition during the year. This refers to assets that were sold and removed from the balance sheet during 2018 , Calculate the not bookvalu of the total PPE disposed during the yeat. Assume that Hushy Energy recelved $4 million cash proceeds for the year. Determine the jgain or loss on the disposal. Property, Plant and Equipment (in CS millions) Properties and Storage Dec 31, 2017 Additions Acquisitions Transfers from exploration and evaluation Intersegment transfers Changes in asset retirement obligations Disposals and derecognition Exchange adjustments Dec 31,2018 Accumulated depletion, depreciation, amortization, and impairment Dec 31,2017 Depletion, depreciation, amortization, and impairment Disposals and derecognition Exchange adjustments Dec. 31,2018 \begin{tabular}{|c|c|c|c|c|c|} \hline$43,488 & $89 & $2,703 & $9,559 & $3,047 & $58,886 \\ \hline 2,465 & 12 & 62. & 744 & 151 & 3,434 \\ \hline 64 & - & - & 3 & - & 67 \\ \hline 79 & - & - & - & - & 79 \\ \hline - & - & - & (5) & 5 & \\ \hline 43 & 2 & (2) & (5) & 7 & 45 \\ \hline (632) & - & - & (10) & (1) & (643) \\ \hline 362 & 1 & = & 773 & 3 & 1,139 \\ \hline$45,869 & $104 & $2,763 & $11,059 & $3,212 & $63,007 \\ \hline$(26,016) & s(47) & 3(1,462) & s(3,176) & $(1,842) & s(32,543) \\ \hline(1.811) & (2) & (123) & (503) & (152) & (2,591) \\ \hline 586 & - & - & 10 & - & 596 \\ \hline (138) & (1) & = & (264) & (1) & (404) \\ \hline$(27,379) & s(50) & (1,585) & s(3,933) & s(1,995) & s(34,942) \\ \hline$17,472 & $42 & $1,241 & 56,383 & 51,205 & 526,343 \\ \hline 18,490 & 54 & 1,178 & 7.126 & 1,217 & 28,065 \\ \hline \end{tabular} Net book value Deci 31, 2017 Dec. 31,2018 Step by Step Solution
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