proceeds on disposal, The following information is taken from the financial statements of

proceeds on disposal

The following information is taken from the financial statements of an entity: 20x4 20x3 Property, plant and equipment $4,600,000 $4,200,000 Accumulated depreciation (1,800,000) (1,350,000) Depreciation expense 560,000 Gain on disposal of PPE 65,000 The asset disposed of had a cost of $250,000. Calculate (i) the cost of the new PPE purchased during the year and (ii) the proceeds on disposal on sale of PPE.

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