Calculator eBook Book Value of Fixed Assets Cannington, Inc., designs, manufactu

Question

Calculator eBook Book Value of Fixed Assets Cannington, Inc., designs, manufactures, and markets personal computers and related software. The following information was taken from a recent annual report of Cannington industries: Property, Plant, and Equipment (in millions): Current Year Preceding Year $448,653 580,155 100,560 703,921 (819,952) Land and buildings Machinery, equipment, and internal-use software Office furniture and equipment Other fixed assets related to leases Accumulated depreciation and amortization a. Compute the book value of the fixed assets for the current year and the preceding year. Current year book value Preceding year book value b. Would you normally expect the book value of fixed assets to increase or decrease during the year? $773,540 734,863 116,031 935,983 (982,396)

Explanation / Answer

a Current year book value 1578021 =(773540+734863+116031+935983)-982396 Preceding year book value 1013337 =(448653+580155+100560+703921)-819952 b Increase

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