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1. a) How much cash was received from the sale (disposal) of property, plant, and equipment during 2013? b) Assume the cost of the PPE sold during 2013 was $950M and the accumulated depreciation on PPE sold amounted to $350M. What is the gain or loss on the sale? 2. Assume that Wal-Mart purchased equipment at the beginning of fiscal year 2009 for $480,000 cash. The equipment had an estimated useful life of 8 years and a residual value of $30,000. a. What would depreciation expense be for year 3 under the straight-line method? b. What would depreciation expense be for year 3 under the double-declining balance method? c. What is the first year in which depreciation expense under the straight-line method is higher than under the declining balance method? d. Assume Wal-Mart uses the straight-line depreciation method for its equipment. Also assume that at fiscal year-end 2013, Wal-Mart sold the equipment purchased at the beginning of fiscal year 2009 for $200,000 cash. Prepare the journal entry to record the sale of the equipment at year-end 2013. 3. a) What was the total current portion of Wal-Mart’s long-term debt at January 31, 2013? b) What would have been the effect on working capital on January 31, 2013 if the current portion of long-term debt had not been properly reclassified? State the direction and dollar amount. 4. Refer to the Note 6 (with respect to the total long-term debt only). Wal-Mart is scheduled to pay debt maturities each fiscal year-end as indicated in the notes. At January 31, 2013, what was the present value of Wal-Mart’s fourth debt payment (due January 31, 2017)? (assume an 8% interest rate).

1. a) How much cash was received from the sale (disposal) of property, plant, and equipment during 2013?

b) Assume the cost of the PPE sold during 2013 was $950M and the accumulated depreciation on PPE sold amounted to $350M. What is the gain or loss on the sale?

2. Assume that Wal-Mart purchased equipment at the beginning of fiscal year 2009 for $480,000 cash. The equipment had an estimated useful life of 8 years and a residual value of $30,000.

 

a. What would depreciation expense be for year 3 under the straight-line method?

b. What would depreciation expense be for year 3 under the double-declining balance method?

c. What is the first year in which depreciation expense under the straight-line method is higher than under the declining balance method?

 

d. Assume Wal-Mart uses the straight-line depreciation method for its equipment. Also assume that at fiscal year-end 2013, Wal-Mart sold the equipment purchased at the beginning of fiscal year 2009 for $200,000 cash. Prepare the journal entry to record the sale of the equipment at year-end 2013.

3. a) What was the total current portion of Wal-Mart’s long-term debt at January 31, 2013?

b) What would have been the effect on working capital on January 31, 2013 if the current portion of long-term debt had not been properly reclassified? State the direction and dollar amount.

4. Refer to the Note 6 (with respect to the total long-term debt only). Wal-Mart is scheduled to pay debt maturities each fiscal year-end as indicated in the notes. At January 31, 2013, what was the present value of Wal-Mart’s fourth debt payment (due January 31, 2017)? (assume an 8% interest rate).

Interested in a PLAGIARISM-FREE paper based on these particular instructions?...with 100% confidentiality?

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