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Kasznik Ltd . had the following balances for its property, plant, and equipment accounts ( in millions of pounds ) : Dec. 3 1 Year
Kasznik Ltd had the following balances for its property, plant, and equipment accounts in millions of pounds:
Dec.
Year Dec.
Year
Property, plant & equipment at cost
Accumulated deprecation
Property, plant & equipment, net
During Year Kasznik Ltd paid million in cash to acquire property and equipment, and this amount represents all the acquisitions of property, plant, and equipment for the period. The companys income statement reveals depreciation expense of million and a million loss from the disposal of used equipment.
Note: Enter answers in millions.
a What was the original cost of the used equipment that Kasznik Ltd sold during Year Answer
b How much depreciation had been accumulated on the used equipment at the time it was sold? Answer
c How much cash did Kasznik Ltd receive from its disposal of used equipment? Answer
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