Question
Sehgal Parks operates amusement parks in the United States and Canada. During 2018, it reported the following (in millions): From the income statement Loss on
Sehgal Parks operates amusement parks in the United States and Canada. During 2018, it reported the following (in millions): From the income statement Loss on sale of equipment $ 10 Depreciation expense 227 From the balance sheet Equipment, beginning 1,800 Equipment, ending 1,870 Accumulated depreciation, beginning 1,670 Accumulated depreciation, ending 1,850 Equipment costing $214 was purchased during the year. Required: For the equipment that was disposed of during the year, compute the following:
$ in million(a) Original cost of equipment sold(b) Accumulated DepreciationEquipment(c) Cash Received from Sale
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