1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
ratelena [41]
3 years ago
8

Eastman Kodak reported that the cost of its PPE on December 31, 2010 was $6,805 million. On January 1, 2010, it had been $7,327

million. Also, the balance of accumulated depreciation on December 31, 2010 was $5,254 million. On January 1, 2010, it had been $5,516 million. Depreciation expense for the fiscal year 2010 was $420 million. During 2010, the company bought new equipment with acquisition cost of $254 million worth. The company also sold PPE and reported a $14 million gain on selling PPE.
Questions:

How much did Kodak sell its PPE for (sale price)?
Business
1 answer:
shtirl [24]3 years ago
7 0

Answer:

Kodak sold its PPE for $108 million

Explanation:

The question here has missing sales figure for a PPE item for which the gain on sale is $14 million (given) .Sale price of PPE item are obtained from a PPE Disposal account.We need to first find the other missing figures of 1. Cost of the Sold PPE and 2. The Accumulated Depreciation of the Sold PPE item. After that we complete our PPE disposal account to find the missing figure of the Sale Price of PPE.

1. Cost of Sold PPE

Open a PPE at Cost Account:  Opening Balance $ 7327 million (Debit), Addition of PPE $ 254 million (Debit),Closing Balance $6805 million(Credit).The Balancing figure of this account $ 776 million (credit) {7327+254-6805} is the cost of the PPE item sold.

2. Accumulated Depreciation of the Sold PPE Item

Open a PPE Accumulated Depreciation Account : Opening Balance $ 5516 million (Credit), Depreciation Expense $ 420 million (Credit), Closing Balance $ 5254 million (Debit). The Balancing figure of this account $682 million (Debit) is the Accumulated Depreciation of the PPE item disposed or sold.

3. Disposal Account and Calculation of the Sale Price (Balancing figure)

Open a PPE Disposal Account : Cost of PPE $ 776 million (Debit), Gain on Sale of PPE $ 14 million (Debit), Accumulated Depreciation of the PPE Sold $ 682 million (Credit). The Balancing figure of this account $ 108 million (Credit) {776+14-108} is the Sale Price of PPE item.

Thus Sale price of the PPE is $ 108 million.

You might be interested in
What are the features of burton biscuits
Sidana [21]
Chocolate chip cookies- a little gooey when warm
dodgers-delightfully sweet and full of filling
to name a few...
3 0
3 years ago
M and M, Inc. produces a product that has a variable cost of $4.90 per unit. The company's fixed costs are $37,200. The product
iragen [17]

Answer:

So the amount of sales needed will be $144000

Explanation:

We have given selling price per unit =$8

Variable cost per unit = $4.90

Contribution margin per unit = 8-4.90=$3.1

Contribution margin Ratio = \frac{contribution\ margin}{sales}=\frac{3.1}{8}=0.3875

Fixed costs =  $37200

Target profit= $18600

Required Sales amount to earn the desired profit = \frac{Fixed costs + Target net income}{Contribution Margin Ratio}

=\frac{37200+18600}{0.3875}=$144000

3 0
3 years ago
The EPA requires the use of precise forms called the
Musya8 [376]

Answer:

The correct answer is The EPA requires the use of precise forms called? It is a requirement for those working with or owners of transporters and generators of waste materials deemed hazardous to acquire an EPA form 8700-22 called the uniform hazardous waste manifest.

Explanation:

i hope this helps 229 999 0523

8 0
3 years ago
Goods that are created and used domestically are __________.
dem82 [27]
The answer is C. Produced and consumed in one country. 
Goods that are created and used domestically are not imported goods because imported goods means coming from other country, it's not also exported goods since it is not exported to other county. Rather it is being produced and used of the same country.
7 0
3 years ago
Read 2 more answers
List two career pathways from the health science cluster?
Black_prince [1.1K]
<span>biotechnology research and support services

</span>
6 0
3 years ago
Read 2 more answers
Other questions:
  • A buyer entered into a contract with a seller to purchase the seller's farm. The contract of sale referred to the farm as contai
    13·1 answer
  • Privack Corporation has a standard cost system in which it applies overhead to products based on the standard direct labor-hours
    13·1 answer
  • Although maybelline would like to use ____ as a consumer sales promotion method, this method has extremely high labor costs that
    12·1 answer
  • Quasi Contract Middleton Motors, Inc.. a struggling Ford dealership in Madison, Wisconsin. sought managerial andfinancial assist
    9·1 answer
  • Which objective is NOT appropriate for an informational interview?
    10·2 answers
  • Efficiency is:
    12·1 answer
  • Sitz Company makes chairs. The budgeted selling price is​ $55 per​ chair, the variable rate is​ $25 per chair and budgeted fixed
    9·1 answer
  • A person is most likely to be motivated to make an economic decision if:
    9·1 answer
  • How would define industry? What is the industry of a store that sells fishing poles
    12·1 answer
  • What type of scheme is being used when an individual is asked to make an upfront payment in order to gain access to a larger amo
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!