March 31, 2018 2017 6,907 Balance Sheet (dollars in millions) Assets Total current assets Property, plant, and equipment .. Less: Accumulated depreciation.. Goodwill. 7,990 $ 4,832 4,198 2,128 1,724 557 517 Year Ended 1. How much was Carribean's cost of plant assets at March 31, 2018? How much was the book value of plant assets? Show computations. 2. The financial statements provide three pieces of evidence that Carribean purchased plant assets and goodwill during fiscal year 2018. What are they? 3. T-accounts for Property, Plant, and Equipment; Accumulated Depreciation; and Goodwill have been prepared for you. Fill in the T-accounts with information from the comparative balance sheets and cash flow statements. Label each increase or decrease and give its dollar amount 4. Prepare the journal entry for the sale of property, plant, and equipment in 2018. Carribean Stores, Inc., sells electronics and appliances. The excerpts that follow are adapted from Carribean's financial statements for 2018 and 2017. (Click the icon to view the partial balance sheet and cash flow statement.) Read the requirements Requirement 1. How much was Carribean's cost of plant assets at March 31, 2018? How much was the book value of plant assets? Show computations. (Enter amounts in millions as provided in the problem statement.) The cost of plant assets at March 31, 2018 is $ million. Determine the formula and enter the amounts to calculate the book value of plant assets at March 31, 2018. Book value Requirement 2. The financial statements provide three pieces of evidence that Carribean purchased plant assets and goodwill during fiscal year 2018. What are they? 1. 2. 3 Requirement 3. T-accounts for Property, plant, and Equipment; Accumulated Depreciation; and Goodwill have been prepared for you. Fill in the T-accounts with information from the comparative balance sheets and cash flow statements. Label each increase or decrease and give its dollar amount. (Abbreviation used: Accum. Depr. = Accumulated Depreciation. Enter amounts in millions as provided in the problem statement.) Begin by completing the T-account for Property, Plant, and Equipment. Property, Plant, and Equipment Next, complete the T-account for Accumulated Depreciation. Accumulated Depreciation Finally, complete the T-account for Goodwill. Goodwill Requirement 4. Prepare the journal entry for the sale of property, plant, and equipment in 2018. (Record debits first, then credits. Exclude explanations from journal entries. Enter amounts in millions as provided in the problem statement.) Journal Entry Date Accounts Debit Credit Millions March 31, 2018 2017 6,907 Balance Sheet (dollars in millions) Assets Total current assets Property, plant, and equipment .. Less: Accumulated depreciation.. Goodwill. 7,990 $ 4,832 4,198 2,128 1,724 557 517 Year Ended 1. How much was Carribean's cost of plant assets at March 31, 2018? How much was the book value of plant assets? Show computations. 2. The financial statements provide three pieces of evidence that Carribean purchased plant assets and goodwill during fiscal year 2018. What are they? 3. T-accounts for Property, Plant, and Equipment; Accumulated Depreciation; and Goodwill have been prepared for you. Fill in the T-accounts with information from the comparative balance sheets and cash flow statements. Label each increase or decrease and give its dollar amount 4. Prepare the journal entry for the sale of property, plant, and equipment in 2018. Carribean Stores, Inc., sells electronics and appliances. The excerpts that follow are adapted from Carribean's financial statements for 2018 and 2017. (Click the icon to view the partial balance sheet and cash flow statement.) Read the requirements Requirement 1. How much was Carribean's cost of plant assets at March 31, 2018? How much was the book value of plant assets? Show computations. (Enter amounts in millions as provided in the problem statement.) The cost of plant assets at March 31, 2018 is $ million. Determine the formula and enter the amounts to calculate the book value of plant assets at March 31, 2018. Book value Requirement 2. The financial statements provide three pieces of evidence that Carribean purchased plant assets and goodwill during fiscal year 2018. What are they? 1. 2. 3 Requirement 3. T-accounts for Property, plant, and Equipment; Accumulated Depreciation; and Goodwill have been prepared for you. Fill in the T-accounts with information from the comparative balance sheets and cash flow statements. Label each increase or decrease and give its dollar amount. (Abbreviation used: Accum. Depr. = Accumulated Depreciation. Enter amounts in millions as provided in the problem statement.) Begin by completing the T-account for Property, Plant, and Equipment. Property, Plant, and Equipment Next, complete the T-account for Accumulated Depreciation. Accumulated Depreciation Finally, complete the T-account for Goodwill. Goodwill Requirement 4. Prepare the journal entry for the sale of property, plant, and equipment in 2018. (Record debits first, then credits. Exclude explanations from journal entries. Enter amounts in millions as provided in the problem statement.) Journal Entry Date Accounts Debit Credit Millions