Companies have a significant amount of investment in long-lived assets, which include property, plant, and equipment...
Companies have a significant amount of investment in long-lived assets, which include property, plant, and equipment (commonly referred to as plant assets); and intangible assets. We will also discuss different types of liabilities and understand how to account for and report those liabilities.
Plant assets have useful lives of one year or more.
What plant assets did a current or former employer utilize?
Homework Answers
PLANT ASSETS :
Plant assets are also referred as FIXED ASSETS that helps the company to produce goods or provide services to its customers . These assets are recorded at COST PRICE i.e, the price at which it was purchased and then they are depreciated at a particular percentage (wear and tear) over its useful life period .
EXAMPLES :
- Building
- Land
- Machinery and equipment
- Office equipment
- Furniture and fixtures
- Vehicles.
- Tools.
It has to be noted that the only plant asset that is not depreciated is LAND. Land never depreciates in its value and continue to remain useful indefinitely .
Plant assets used by former employers were typewriters , furniture and fixtures , land and building etc. Current employers use all kind of assets and machinery in factories for production purposes . They are held in business rather than resale purposes. On the balance sheet of a company they appear under the head PROPERTY,PLANT AND EQUIPMENT.
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Companies have a significant amount of investment in long-lived
assets, which include property, plant, and equipment...
Current Assets Current Liabilities Intangible Assets Long-term Investments Long-term Liabilities Property, plant and Equipment Stockholders' Equity...
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please I need them. Interpreting and Applying Disclosures on Property and Equipment Following are selected disclosures...
please I need them.
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IAS 16, Property, Plant, and Equipment, requires assets to be initially measured at cost. Subsequently, assets...
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IAS 16, Property, Plant, and Equipment, requires assets to be initially measured at cost. Subsequently, assets...
IAS 16, Property, Plant, and Equipment, requires assets to be initially measured at cost. Subsequently, assets may be carried at cost less accumulated depreciation, or they can be periodically revalued upward to current value and carried at the revalued amount less accumulated depreciation. If revalued, the adjustment is reported in other comprehensive income. Subsequent depreciation is based on the revalued amount. ASPE does not allow assets to be revalued at an amount exceeding historical cost less accumulated depreciation. ABC Ltd.,...
IAS 16, Property, Plant, and Equipment, requires assets to be initially measured at cost. Subsequently, assets...
IAS 16, Property, Plant, and Equipment, requires assets to be initially measured at cost. Subsequently, assets may be carried at cost less accumulated depreciation, or they can be periodically revalued upward to current value and carried at the revalued amount less accumulated depreciation. If revalued, the adjustment is reported in other comprehensive income. Subsequent depreciation is based on the revalued amount. ASPE does not allow assets to be revalued at an amount exceeding historical cost less accumulated depreciation. ABC Ltd.,...
The cash flow statement reports the cash purchases for property, plant and equipment. How much did...
The cash flow statement
reports the cash purchases for property, plant and equipment. How
much did the company purchase and sell?
Property, Plant and Equipment Property, plant and equipment, which includes assets under capital leases, are carried at cost less accumulated depreciation. Cost includes all direct costs necessary to acquire and prepare assets for use, including internal labor and overhead in some cases. Depreciation is computed using the straight-line method over estimated useful lives of the assets, generally ranging from...
Question for Dec. 31, 2018 a.)What asset does Tesla have the most significant investment? b.) Is...
Question for Dec. 31, 2018
a.)What asset does Tesla have the most significant
investment?
b.) Is Tesla financed primarily with debt or equity?
c.) Is Tesla's debt primarily short term or long term?
Explain
d.) What is a significant change in individual assets or
liabilities.
e.) What is a significant change in the composition of current
assets or current liabilities.
f.) Evaluate Tesla's debt paying ability.
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Sparky, Inc. presented the following select balance sheet accounts for Plant, Property & Equi...
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What date was the 2017 annual report filed? December 31, 2016 January 31, 2018 February 22, 2018 December 31, 2017 Who is Columbia Sportswear Company’s auditor? KPMG Deloitte & Touche PricewaterhouseCoopers Ernst & Young Did Columbia Sportswear Company receive an “unqualified” opinion? No Yes Assets classified as Property, Plant and Equipment can be either acquired for use in operations, or acquired for resale. True False What is the December 31, 2017 balance (in thousands) of Land and Improvements for Columbia...
Required: 1. What is the amount of Apple’s accounts receivable as of September 30, 2017? 2....
Required:
1. What is the amount of Apple’s accounts
receivable as of September 30, 2017?
2. Compute Apple’s accounts receivable turnover as
of September 30, 2017.
3. How long does it take, on average, for
the company to collect receivables for fiscal year ended September
30, 2017?
4. Apple’s most liquid assets include (a)
cash and cash equivalents, (b) short-term marketable
securities, (c) accounts receivable, and (d)
inventory. Compute the percentage that these liquid assets (in
total) make up of...
Current Assets Current Liabilities Intangible Assets Long-term Investments Long-term Liabilities Property, plant and Equipment Stockholders' Equity Total Assets Total Current Assets Total Current Liabilities Total Intangible Assets Total Liabilities Total Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term Liabilities Total Property, Plant and Equipment Additional Paid-in Capital Paid-in Capital Capital Stock Total Capital Stock Total Paid-in Capital Total Stockholders' Equity Total Additional Paid-in Capital Total Paid-in Capital and Retained Earnings Ayayai Corp. has issued 90,000 shares of $4 par...
please I need them.
Interpreting and Applying Disclosures on Property and Equipment Following are selected disclosures from the Evett and Sternard Company (a specialty chemical company) 2007 10-K. Land, Building and Equipment, Net (in millions) 2007 2006 Land $ 146 $ 142 Buildings and improvements 2,000 1,900 Machinery and equipment 6,155 5,721 Capitalized interest 352 340 Construction in progress 271 218 Land, Building and Equipment, Gross 8,924 8,321 Less: Accumulated depreciation 5,908 5,481 Total $ 3,016 $ 2,840 The principal...
IAS 16, Property, Plant, and Equipment, requires assets to be initially measured at cost. Subsequently, assets may be carried at cost less accumulated depreciation, or they can be periodically revalued upward to current value and carried at the revalued amount less accumulated depreciation. If revalued, the adjustment is reported in other comprehensive income. Subsequent depreciation is based on the revalued amount. ASPE does not allow assets to be revalued at an amount exceeding historical cost less accumulated depreciation. ABC Ltd.,...
The cash flow statement
reports the cash purchases for property, plant and equipment. How
much did the company purchase and sell?
Property, Plant and Equipment Property, plant and equipment, which includes assets under capital leases, are carried at cost less accumulated depreciation. Cost includes all direct costs necessary to acquire and prepare assets for use, including internal labor and overhead in some cases. Depreciation is computed using the straight-line method over estimated useful lives of the assets, generally ranging from...
Question for Dec. 31, 2018
a.)What asset does Tesla have the most significant
investment?
b.) Is Tesla financed primarily with debt or equity?
c.) Is Tesla's debt primarily short term or long term?
Explain
d.) What is a significant change in individual assets or
liabilities.
e.) What is a significant change in the composition of current
assets or current liabilities.
f.) Evaluate Tesla's debt paying ability.
June 30, December 31, 2018 2019 S $ 4,954,740 128,006 1,147,100 3,382,358 569,748 10,181,952...
Required:
1. What is the amount of Apple’s accounts
receivable as of September 30, 2017?
2. Compute Apple’s accounts receivable turnover as
of September 30, 2017.
3. How long does it take, on average, for
the company to collect receivables for fiscal year ended September
30, 2017?
4. Apple’s most liquid assets include (a)
cash and cash equivalents, (b) short-term marketable
securities, (c) accounts receivable, and (d)
inventory. Compute the percentage that these liquid assets (in
total) make up of...
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