9. Use the following PP&E disclosure from Companies A & B to answer parts (a-d) below....

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9. Use the following PP&E disclosure from Companies A & B to answer parts (a-d) below. 2022 2021 Company B PP&E, cost Accum. Depr. $200,000 $200,000 (60,000) (40,000) PP&E, net $140,000 $160,000 Company A 2022 2021 PP&E, cost $ 500,000 $500,000 Accum. Depr. (120,000) (90,000) PP&E, net $ 380,000 $410,000 *Both companies use straight line and assume a salvage value of 10% of the PPE's original cost. a. (6 points) How much depreciation expense did Company A take in 2022? b. (6 points) What is the useful life of Company A's PP&E? c. (6 points) How old is Company B's PP&E? d. (6 points) On 1/1/2023, Company A sells all of its PP&E for $400,000 cash. Record the JE: e. (Bonus +3 points) If Company A used the same depreciation assumptions as Company B, what would its depreciation expense have been in 2022? 9. Use the following PP&E disclosure from Companies A & B to answer parts (a-d) below. 2022 2021 Company B PP&E, cost Accum. Depr. $200,000 $200,000 (60,000) (40,000) PP&E, net $140,000 $160,000 Company A 2022 2021 PP&E, cost $ 500,000 $500,000 Accum. Depr. (120,000) (90,000) PP&E, net $ 380,000 $410,000 *Both companies use straight line and assume a salvage value of 10% of the PPE's original cost. a. (6 points) How much depreciation expense did Company A take in 2022? b. (6 points) What is the useful life of Company A's PP&E? c. (6 points) How old is Company B's PP&E? d. (6 points) On 1/1/2023, Company A sells all of its PP&E for $400,000 cash. Record the JE: e. (Bonus +3 points) If Company A used the same depreciation assumptions as Company B, what would its depreciation expense have been in 2022?

Answer rating: 100% (QA)

a Depreciation expense for Company A in 2022 Company A uses straightline depreciation Salvage Value ... View the full answer