Iowa Industries Inc.
Selected data from the financial statements of Iowa Industries Inc.for the years ended December 31,2014 and 2013,are presented below.Also,certain assumptions are presented.Use these data and assumptions to answer the questions that follow.
Assumptions:
Review the data and assumptions for Iowa Industries Inc.
REQUIRED:
(A)What was the cost of the property,plant and equipment which was disposed of during 2014?
(B)What was the amount of accumulated depreciation on the property,plant and equipment disposed of during 2014?
(C)Assuming that the book value of the property,plant and equipment disposed of during 2014 was $76.9,what were the cash proceeds from the disposal of property,plant and equipment for 2014?
Correct Answer:
Verified
$10,868.4 (Property,plant,and ...
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