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Accounting Sleuth: Reconstructing Entries Kasznik Ltd. had the following balances for its property, plant and equipment...

Accounting Sleuth: Reconstructing Entries
Kasznik Ltd. had the following balances for its property, plant and equipment accounts (in millions of pounds):

Dec. 31, 2015 Dec. 31, 2016
Property, plant & equipment at cost £350 £366
Accumulated deprecation (156) (166)
Property, plant & equipment, net £194 £200

During 2016, Kasznik Ltd. paid £56 million in cash to acquire property and equipment, and this amount represents all the acquisitions of property, plant and equipment for the period. The company's income statement reveals depreciation expense of £34 million and a £10 million loss from the disposal of used equipment.

a. What was the original cost of the used equipment that Kasznik Ltd. sold during 2016 ? £Answermillion
b. How much depreciation had been accumulated on the used equipment at the time it was sold? £Answermillion
c. How much cash did Kasznik Ltd. receive from its disposal of used equipment? £Answermillion
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