Problem #$2$

Presented below is information related to equipment owned by Finley Company at December $31,2012.$

$\backslash$table$[[$Cost$,$$$7,000,000$

Problem #$2$

$($cost$-$acc dep$)-$imyarmentoss

Presented below is information related to equipment owned by Finley Company at December $31,2012.$

Cost

Accumulated depreciation to date

Expected future net cash flows

Fair value

FV less cost

Problem #$3$

Repeat the instructions for problem #$2$ assuming the company no longer uses the asset and intends to dispose of it$.$

$($a$)$

$\backslash$table$[[,,6,200,000$