Selected Data from the Financial Statements for the Years Ended

question 43

Essay

Selected data from the financial statements for the years ended December 31, 2014 and 2013, are presented below:
The following additional information was obtained from the company's records:

-Refer to Maritime Marine Services. What was the amount of accumulated depreciation on the property, plant and equipment disposed of during 2014?

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Definitions:

Negligence Suit

A legal action brought against someone accused of failing to exercise a reasonable standard of care, resulting in harm or damage to another.

Damages

Compensation sought or awarded in a legal proceeding as a remedy for breach of contract or tortuous act.

Fair Labor Standards Act

The Fair Labor Standards Act is a United States federal law that establishes minimum wage, overtime pay eligibility, recordkeeping, and child labor standards affecting employees in the private sector and in federal, state, and local governments.

Double-Pay

A situation where an individual receives twice the amount of payment that is due for a particular period or task, often due to an error or as a special compensation.