In Its 2018 Annual Report to Shareholders, Plank Breweries Included

question 161

Essay

In its 2018 annual report to shareholders, Plank Breweries included the following note:

Property, Plant, and Equipment

Property, plant, and equipment consist of the following (in $ thousands):

Total depreciation expense was approximately $2.121 million and $2.179 million for the years ended December 31, 2018 and 2017, respectively.

Also, Plank Breweries reported the following information in its annual report (in $ thousands):


-Prepare the journal entry to record Plank's disposal of the property, plant, and equipment during 2018.

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Definitions:

Probability

The measure of the likelihood that an event will occur, quantified as a number between 0 and 1.

Travel Expenses

Costs associated with traveling for the purpose of conducting business, medical care, or other approved activities that may be deductible under tax regulations.

Probability

The probability or possibility of an event happening.

Incorrectly Reported

A term referring to data or results that have been mistakenly or inaccurately documented or communicated.