Question
(please answer all parts) Use the attached information from Boeing's 2015 annual report to answer the following questions. For parts a-c, assume Boeing did not
Use the attached information from Boeing's 2015 annual report to answer the following questions. For parts a-c, assume Boeing did not make any non-cash investing transactions relating to PP&E and Boeing did not record any asset impairments relating to PP&E in 2015.
1.) What is the book value of PP&E disposed by Boeing in 2015?
2.) How much gain/loss did Boeing recognize regarding its disposal of PP&E in 2015?
3.) Record the summary journal entry for the firm's disposal(s) of PP&E in 2015.
4.) Assuming that Boeing did have some non-cash investing transaction related to PP&E.
For fiscal year ended December 31, 2015, the firm has accounts payable related to purchase of PP&E with an amount of $502 million. Record the summary journal entry for the firm's disposals of PP&E for fiscal year ended December 31, 2015
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