Smith Corporation reported the following related to property and equipment (all in millonm) EEB (Cick the lcon to view the duta) Requirement 1. T-accounts for Property and Equipment and Accumulated Depreciation have been opened for you Enter the information as presented and solve for the unknown in each account wiofte 0 ocourts roreaseand decrease. You are solving no coat of Property and Equpment Depoton on . (Hint Racal the types of transactions that make old and the Acoumulated Depreciation on these assets,) (Enler amounts n ions as provided in the problem statement. Abbreviations Begin by posting to the Property and Equipment account Property and Equipment 1. Taocounts for Property and Equipment and Accumulated Depeciation heve unknown in each account (Hint Recal the types of transactions hat make two accounts re solving for the of Property and Equipment sokd and the Acoumulianted Depreciation an those Now post to the Accumulated Depreciation account 2 Besed on your caloulations in requirement 1, calouiate the book vaiue of assets sold during 2018. What s the dfference betwean the sales price and he book value? Prepare the joumal entry for the sale of property and equipment duning 2018 Desoribe the effect of this transaction on the inancial and compare dflerance you calculated in nequirement 2 Describe briely Prepare a Taccount for Property and Equipment, Net Repeat equirement 1 Based on your caulations in neqirement 1,clate he bosk value of ansets soid during 201 Wha s the erence bet Print Done De bock value of ss018 i ion There is a Choose from any list or enter any number in the input teids and then continue to the next question Smith Corporation reported the following related to property and equipment (all in millonm) EEB (Cick the lcon to view the duta) Requirement 1. T-accounts for Property and Equipment and Accumulated Depreciation have been opened for you Enter the information as presented and solve for the unknown in each account wiofte 0 ocourts roreaseand decrease. You are solving no coat of Property and Equpment Depoton on . (Hint Racal the types of transactions that make old and the Acoumulated Depreciation on these assets,) (Enler amounts n ions as provided in the problem statement. Abbreviations Begin by posting to the Property and Equipment account Property and Equipment 1. Taocounts for Property and Equipment and Accumulated Depeciation heve unknown in each account (Hint Recal the types of transactions hat make two accounts re solving for the of Property and Equipment sokd and the Acoumulianted Depreciation an those Now post to the Accumulated Depreciation account 2 Besed on your caloulations in requirement 1, calouiate the book vaiue of assets sold during 2018. What s the dfference betwean the sales price and he book value? Prepare the joumal entry for the sale of property and equipment duning 2018 Desoribe the effect of this transaction on the inancial and compare dflerance you calculated in nequirement 2 Describe briely Prepare a Taccount for Property and Equipment, Net Repeat equirement 1 Based on your caulations in neqirement 1,clate he bosk value of ansets soid during 201 Wha s the erence bet Print Done De bock value of ss018 i ion There is a Choose from any list or enter any number in the input teids and then continue to the next