Melon Amusements operates amusement parks in the United States and Canada. During 2018, it reported the...

Transcribed Image Text:

Melon Amusements operates amusement parks in the United States and Canada. During 2018, it reported the following (in millions) From the income statement Loss on sale of equipment Depreciation expense From the balance sheet Equipment, beginning Equipment, ending Accumulated depreciation, beginning Accumulated depreciation, ending Equipment costing $208 was purchased during the year Required: 5.10 209 1,785 1,855 1,655 1,820 For the equipment that was disposed of during the year, compute the following: (a) its original cost. (b) its accumulated depreciation. and (c) the cash received from the disposal (Enter your answers in millions.) Answer is complete but not entirely correct. (a) Original cost of equipment sold (b) Accumulated Depreciation-Equipment (c) Cash Received from Sale En SA 69 $ in million 138 139 X (11) x Melon Amusements operates amusement parks in the United States and Canada. During 2018, it reported the following (in millions) From the income statement Loss on sale of equipment Depreciation expense From the balance sheet Equipment, beginning Equipment, ending Accumulated depreciation, beginning Accumulated depreciation, ending Equipment costing $208 was purchased during the year Required: 5.10 209 1,785 1,855 1,655 1,820 For the equipment that was disposed of during the year, compute the following: (a) its original cost. (b) its accumulated depreciation. and (c) the cash received from the disposal (Enter your answers in millions.) Answer is complete but not entirely correct. (a) Original cost of equipment sold (b) Accumulated Depreciation-Equipment (c) Cash Received from Sale En SA 69 $ in million 138 139 X (11) x