Parem Stores, Inc. sels electronics and appliances. The excerpts that follow are adapted from Parem'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 Parem'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 $ 4840 million Determine the formula and enter the amounts to calculate the book value of plant assets at March 31, 2018 Cost - Accumulated depreciation Book value 4840 2.130 2.710 Requirement 2. The financial statements provide three pieces of evidence that Parem purchased plant assets and goodwill during fiscal year 2018. What are they? 1 The balance sheet shows an increase in property, plant and equipment 2. 3. The balance sheet shows an increase in goodwill The statement of cash flows reports additions to property, plant, and equipment 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 Depe = 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 4.199 Cost of assets sold in 2018 3/31/2017 Balance Purchases during 2018 Next complete the T-account for Accumulated Depreciation Choose from any list or enter any number in the input fields and then continue to the next question Parem Stores Inc., sells electronics and appliances. The excerpts that follow are adapted from Parem's financial statements for 2018 and 2017 (Click the icon to view the partial balance sheet and cash flow statement) Read the requirements Next, complete the T-account for Accumulated Depreciation Accumulated Depreciation Finally, complete the T-account for Goodwill. Gondwil 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.) Bu Journal Entry Accounts Date Debit Credit Choose from any list or enter any number in the input fields and then continue to the next question arem Stores Inc sells electronics and appliances The excerpts that follow are adapted from Parem's financial statement Data Table Requirements March 31, 2018 2017 1. How much was Parem'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 Parem 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. F 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 Balance Sheet (dollars in millions) Assets Total current assets Property, plant and equipment Less. Accumulated depreciation Goodwill 7982 5 6907 48404.199 2.130 1720 557 510 Print Done Year Ended March 31, 2018 2017 Goodwill Statement of Cash Flows (dollars in millions) Operating activities: Net Income $ 1.142 5 980 Noncash items affecting net income Depreciation 461 472 (121) Gain on sale of properly plant and equipment Investing activities: tend Im statement) Requirement 4. Prepare the journal entry for the sale of property, plant and equipment in 2018. (Record de (617) Journal Entry Additions to property, plant, and equipment Sale of property, plant and equipment (717) 135 B Date Accounts Debit Credit Mons Print Done Choose from any list or enter any number in the input fields and then continue to the next question Parem Stores, Inc. sells electronics and appliances. The excerpts that follow are adapted from Parem's financial statements for 2018 and 2017 BE (Click the icon to view the partial balance sheet and cash flow statement) Read the requirements Requirement 1. How much was Parem'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 $ 4,840 milion Determine the formula and enter the amounts to calculate the book value of plant assets at March 31, 2018 Book value Cost 4,840 Accumulated depreciation 2.130 - Requirement 2. The financial statements provide three pieces of evidence that Parem purchased plant assets and goodwill during fiscal year 2018 What are they? 1 2. 3. The balance sheet shows an increase in property, plant, and equipment The balance sheet shows an increase in goodwill The statement of cash flows reports additions to property, plant, and equipment 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 N 4199 cost of assets sold in 2018 3/31/2017 Balance (Click the icon to view the partial balance sheet and cash flow statement.) Read the requirements 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 3/31/2017 Balance 4.199 Cost of assets sold in 2018 Purchases during 2018 Next, complete the T-account for Accumulated Depreciation Accumulated Depreciation Finally, complete the T-account for Goodwill Goodwill 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 Accounts Date Debit Credit Millions Choose from any list or enter any number in the input fields and then continue to the next question uirement 1. How mud putations. Enter amo Is? Show March 31, 2018 2017 cost of plant assets a ermine the formula and Balance Sheet (dollars in millions) Assets Total current assets Property, plant, and equipment Less: Accumulated depreciation Goodwill Cost 7.982 5 4840 2.130 557 6,907 4.199 1.720 510 4.840 quirement 2. The finan hat are they? pring fiscal year 2018 The balance sheets The balance sheet si The statement of cas Year Ended March 31, 2018 2017 Requirement 3. T-accoun T-accounts with informatio amount. (Abbreviation use S 1.142 $ 980 for you. Fill in the and give its dollar statement) Begin by completing the T Statement of Cash Flows (dollars in millions) Operating activities: Net income Noncash items affecting net income Depreciation Gain on sale of property, plant and equipment Investing activities: Additions to property, plant, and equipment Sale of property, plant, and equipment 461 472 (121) 3/31/2017 Balance Purchases during 2018 (617) (717) 135 Print Done Choose from any list or el blant assets a Assets e formula Requirehients Cost 1.840 nt 2. The fil g fiscal year 2 alance shee 1. How much was Parem'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 Parem 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. alance shed tatement of ent 3. T-acco with informa abbreviation completing the you. Fill in the give its dollar tement.) Print Done Investing activities: 7 Balance Parem Stores, Inc. sels electronics and appliances. The excerpts that follow are adapted from Parem'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 Parem'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 $ 4840 million Determine the formula and enter the amounts to calculate the book value of plant assets at March 31, 2018 Cost - Accumulated depreciation Book value 4840 2.130 2.710 Requirement 2. The financial statements provide three pieces of evidence that Parem purchased plant assets and goodwill during fiscal year 2018. What are they? 1 The balance sheet shows an increase in property, plant and equipment 2. 3. The balance sheet shows an increase in goodwill The statement of cash flows reports additions to property, plant, and equipment 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 Depe = 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 4.199 Cost of assets sold in 2018 3/31/2017 Balance Purchases during 2018 Next complete the T-account for Accumulated Depreciation Choose from any list or enter any number in the input fields and then continue to the next question Parem Stores Inc., sells electronics and appliances. The excerpts that follow are adapted from Parem's financial statements for 2018 and 2017 (Click the icon to view the partial balance sheet and cash flow statement) Read the requirements Next, complete the T-account for Accumulated Depreciation Accumulated Depreciation Finally, complete the T-account for Goodwill. Gondwil 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.) Bu Journal Entry Accounts Date Debit Credit Choose from any list or enter any number in the input fields and then continue to the next question arem Stores Inc sells electronics and appliances The excerpts that follow are adapted from Parem's financial statement Data Table Requirements March 31, 2018 2017 1. How much was Parem'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 Parem 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. F 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 Balance Sheet (dollars in millions) Assets Total current assets Property, plant and equipment Less. Accumulated depreciation Goodwill 7982 5 6907 48404.199 2.130 1720 557 510 Print Done Year Ended March 31, 2018 2017 Goodwill Statement of Cash Flows (dollars in millions) Operating activities: Net Income $ 1.142 5 980 Noncash items affecting net income Depreciation 461 472 (121) Gain on sale of properly plant and equipment Investing activities: tend Im statement) Requirement 4. Prepare the journal entry for the sale of property, plant and equipment in 2018. (Record de (617) Journal Entry Additions to property, plant, and equipment Sale of property, plant and equipment (717) 135 B Date Accounts Debit Credit Mons Print Done Choose from any list or enter any number in the input fields and then continue to the next question Parem Stores, Inc. sells electronics and appliances. The excerpts that follow are adapted from Parem's financial statements for 2018 and 2017 BE (Click the icon to view the partial balance sheet and cash flow statement) Read the requirements Requirement 1. How much was Parem'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 $ 4,840 milion Determine the formula and enter the amounts to calculate the book value of plant assets at March 31, 2018 Book value Cost 4,840 Accumulated depreciation 2.130 - Requirement 2. The financial statements provide three pieces of evidence that Parem purchased plant assets and goodwill during fiscal year 2018 What are they? 1 2. 3. The balance sheet shows an increase in property, plant, and equipment The balance sheet shows an increase in goodwill The statement of cash flows reports additions to property, plant, and equipment 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 N 4199 cost of assets sold in 2018 3/31/2017 Balance (Click the icon to view the partial balance sheet and cash flow statement.) Read the requirements 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 3/31/2017 Balance 4.199 Cost of assets sold in 2018 Purchases during 2018 Next, complete the T-account for Accumulated Depreciation Accumulated Depreciation Finally, complete the T-account for Goodwill Goodwill 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 Accounts Date Debit Credit Millions Choose from any list or enter any number in the input fields and then continue to the next question uirement 1. How mud putations. Enter amo Is? Show March 31, 2018 2017 cost of plant assets a ermine the formula and Balance Sheet (dollars in millions) Assets Total current assets Property, plant, and equipment Less: Accumulated depreciation Goodwill Cost 7.982 5 4840 2.130 557 6,907 4.199 1.720 510 4.840 quirement 2. The finan hat are they? pring fiscal year 2018 The balance sheets The balance sheet si The statement of cas Year Ended March 31, 2018 2017 Requirement 3. T-accoun T-accounts with informatio amount. (Abbreviation use S 1.142 $ 980 for you. Fill in the and give its dollar statement) Begin by completing the T Statement of Cash Flows (dollars in millions) Operating activities: Net income Noncash items affecting net income Depreciation Gain on sale of property, plant and equipment Investing activities: Additions to property, plant, and equipment Sale of property, plant, and equipment 461 472 (121) 3/31/2017 Balance Purchases during 2018 (617) (717) 135 Print Done Choose from any list or el blant assets a Assets e formula Requirehients Cost 1.840 nt 2. The fil g fiscal year 2 alance shee 1. How much was Parem'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 Parem 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. alance shed tatement of ent 3. T-acco with informa abbreviation completing the you. Fill in the give its dollar tement.) Print Done Investing activities: 7 Balance