Question: Assist with understanding this work. need withing an hour Computing Depreciation, Net Book Value, and Gain or Loss on Asset Sale Lynch Company owns and
Assist with understanding this work. need withing an hour


Computing Depreciation, Net Book Value, and Gain or Loss on Asset Sale Lynch Company owns and operates a delivery van that originally cost $51.500. Lynch has recorded straight line depreciation on the van for four years, calculated assuming a $5,000 expected salvage value at the end of its estimated six year useful Wide. Depreciation was last recorded at the end of the fourth year, at which time Lynch disposes of this w a. Compute the net book value of the van on the disposal date. b. Compute the gain or loss on sale of the van if the disposal proceeds are: Use a negative von with your answer if the sale results in a loss 1. A cash amount equal to the van's net book value. $ 2. $22 400 cash. $ 3, $18,400 cash. $Computing Asset Related Ratios J.M. Smucker included the following information in its April 2019 10-K. $ millions Apr. 30, 2019 Apr. 30, 2018 Sales $8073.1 Depreciation expense 212.2 Land 125.8 $123.7 Buildings and fixtures 930 3 837.0 Machinery and equipment 2,206.9 2.132.6 Construction in progress 331.5 2185 Gross property, plant, and equipment 3.594.5 3,311.8 Accumulated depreciation (1,668.3) (1.573 0) Total property plant, and equipment $1.926.2 $1.738.8 a. Compute PPE turnover for fiscal year ended April 30, 2019. Round answer to one decimal place. b, Compute the average useful life of depreciable assets at April 30, 2019. Round answer to one decimal place. years c. Compute the percentage used up of the PPE at April 30, 2019. Round answer to one decimal place (ex: 0.2345 =23.595)
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