Company acae Accounting II Company Analysis Project Plant and Equipment Question

Question

Company acae Accounting II Company Analysis Project Plant and Equipment Questions Refer to the notes to the financial statements. The first note, "Summary of Significant Accounting Policies," provides information about the company's depreciation and amortization methods. You will also need to refer to the other notes to the financial statements and to the financial statements themselves in order to answer the following questions. Property, plant, and equipment 1. What depreciation method does the company use? 2. What is the amount of depreciation expense? (Hint: Look at the operating activities section of the cash flow statement if the indirect method was used) a. Current year b. Prior year 2. Does the company report any intangible assets? What is the dollar amount 3. Does the company report any goodwill? If so, how much 4 List the Long-Lived assets ANALYSIS 5. Calculate the following for the most current year: Show your computations. a. Average useful life of plant assets Cost of plant assets/Depreciation expense b. Average age of plant assets Accumulated Depreciation/ Depreciation Expense C. Asset turnover Sales / Average Assets = d. Return on assets = Net income/ Average Assets

Explanation / Answer

Solution:-

1. What depreciation method does the company used:-

Straight line depreciation.

2.What is the amount of depreciation expenses:-

3. Does the company report any intangibel assets? what is the amount of dollar?

No comany not reported any intangible assets.

4. Does the company report any goodwill ?

No company not reported any goodswill.

Note:- As per Chegg guidelines if more than 4 subpart is posted than we liable to answer only first four sub part.

Please Rate or comment if you have any doubt regarding this solution.

a. Current year 2,298 b. Prior year 2,213

Related Questions

Navigate

• Browse (All)
• Browse C
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.