The 2004 annual report of Minnesota Mining and Manufacturing (3M) included the following information (all dollar amounts
Question:
The 2004 annual report of Minnesota Mining and Manufacturing (3M) included the following information (all dollar amounts are in millions):
1. Using only the net PP&E figures, estimate the book value of the property, plant, and equipment that was sold during the year.
2. Using the individual PP&E and accumulated depreciation accounts, estimate the gain or loss on the disposal of property, plant, and equipment during theyear.
Transcribed Image Text:
2004 2003 From the balance sheet: From the statement of cash flows-operating: From the statement of cash flows-investing Property. plant and equipment (net) Depreciation Purchases of property. plant and equipment outflow.... 835 964 (937) 69 (677) 129 Proceeds from sale of PP&E and other assets-inflow..-......... From the notes to the financial statements: 16.290 5,841 0,579 0,232 Property. plant and equipment, at cost .. Accumulated depreciation
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Related Book For
Intermediate Accounting
ISBN: 978-0324312140
16th Edition
Authors: James D. Stice, Earl K. Stice, Fred Skousen
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