Hu Corporation
Use the following Assets section of Hu Corporation's balance sheets for the years ended December 31,2018 and 2017 to answer the questions that follow.
Hu Corporation recorded depreciation expense of $344 million for 2017.
-Refer to the information for Hu Corporation.
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Required
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(1)Determine the book value of Hu's property,plant and equipment at December 31,2018 and 2017.
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(2)What types of transaction(s)could have caused the change in book value of property,plant,and equipment during 2018?
Definitions:
Wage Rate
The amount of money paid to a worker per unit of time, usually expressed per hour or year.
Wage Rate
The amount of money paid to an employee per unit of time worked, often expressed on an hourly basis.
Marginal Physical Product
The additional output that is produced by adding one more unit of a specific input, keeping all other inputs constant.
Total Revenue Product
The total revenue generated by a firm from selling its product, given by the quantity sold times the selling price.
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