Question

A recent annual report for Eastman Kodak reported that the balance of property, plant, and equipment at the end of the current year was $16,774 million. At the end of the previous year, it had been $15,667 million. During the current year, the company bought $2,118 million worth of new equipment. The balance of accumulated depreciation at the end of the current year was $8,146 million and at the end of the previous year was $7,654 million. Depreciation expense for the current year was $1,181 million.
The annual report does not disclose any gain or loss on the disposition of property, plant, and equipment, so you may assume that the amount was zero.

Required:
What amount of proceeds did Eastman Kodak receive when it sold property, plant, and equipment during the current year?



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  • CreatedJuly 26, 2012
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