ZuoTi.Pro
Question

The 2017 financial statements of Lowell Inc. include the following footnote: Note 4. Property and Equipment...

The 2017 financial statements of Lowell Inc. include the following footnote: Note 4. Property and Equipment 2017 2016 Gross PPE 1,000 1,000 Less accumulated depreciation (382 ) (290 ) Net PPE $ 618 $710 Depreciation expense $ 92 $ 90 The average useful life of Willamette's depreciable assets at the end of fiscal 2017 is: A. 10.98 years B. 11.4 years C. 12.9 years D. 11.5 years

business   finance   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

The average useful life of Willamette's depreciable assets at the end of fiscal 2017

=cost of asset/average depreciation

=1000/((90+92)/2)

=10.98 years

the above is answer..

0 0
Add a comment
Know the answer?
Add Answer to:
The 2017 financial statements of Lowell Inc. include the following footnote: Note 4. Property and Equipment...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • The property and equipment footnote from the Deere & Company Equipment and Operations segment follows. Property...

    The property and equipment footnote from the Deere & Company Equipment and Operations segment follows. Property and Depreciation A summary of property and equipment at October 31 follows. Useful Lives* Property and Equipment ($ millions) (Years) 2015 2014 *Weighted averages Land $114 $120 Buildings and building equipment 23 2,572 3,037 Machinery and equipment 11 4,611 5,089 Dies, patterns, tools, etc 8 1,567 1,552 All other 5 875 889 Construction in progress 345 530 Total at cost 10,084 11,217 Less accumulated...

  • Estimating Useful Life and Percent Used Up The property and equipment footnote from the Deere &...

    Estimating Useful Life and Percent Used Up The property and equipment footnote from the Deere & Company Equipment and Operations segment follows. Property and Depreciation A summary of property and equipment on October 31 follows. Useful Lives* Property and Equipment ($ millions) (Years) 2015 2014 *Weighted averages Land $114 $120 Buildings and building equipment 23 2,572 3,037 Machinery and equipment 11 4,611 5,089 Dies, patterns, tools, etc 8 1,567 1,552 All other 5 875 889 Construction in progress 345 530...

  • Estimating Useful Life and Percent Used Up The property and equipment footnote from the Deere &...

    Estimating Useful Life and Percent Used Up The property and equipment footnote from the Deere & Company Equipment and Operations segment follows. Property and Depreciation A summary of property and equipment at October 31 follows. Useful Lives* Property and Equipment ($ millions) (Years) 2015 2014 *Weighted averages Land $114 $120 Buildings and building equipment 23 2,572 3,037 Machinery and equipment 11 4,611 5,089 Dies, patterns, tools, etc 8 1,567 1,552 All other 5 875 889 Construction in progress 345 530...

  • Question text Computing and Interpreting Percent Depreciated and PPE Turnover The following footnote is from Note...

    Question text Computing and Interpreting Percent Depreciated and PPE Turnover The following footnote is from Note 8 to the 2018 of Tesla, Inc.: Note 8- Property, Plant and Equipment Our property, plant and equipment, net, consisted of the following (in thousands): 2018 2017 Machinery, equipment, vehicles and office furniture $ 6,328,966 $ 4,251,711 Tooling 1,397,514 1,255,952 Leasehold improvements 960,971 789,751 Land and buildings 4,047,006 2,517,247 Computer equipment, hardware and software 487,421 395,067 Construction in progress 807,297 2,541,588 14,029,175 11,751,316 Less:...

  • ABC has the following accounts in the Property, Plant and Equipment (PPE) section of its balance sheet: Land, Buildings,...

    ABC has the following accounts in the Property, Plant and Equipment (PPE) section of its balance sheet: Land, Buildings, and Equipment. Each non-current asset account has a separate accumulated depreciation contra-account except for Land. ABC uses the historical cost principle to value its fixed assess after acquisition. ABC completed the following transactions in fiscal year 2017. ABC has a fiscal year end of 31st December. 3rd January 2017: ABC exchanged old equipment with accumulated depreciation of €130,000 (cost of acquisition...

  • ABC has the following accounts in the Property, Plant and Equipment (PPE) section of its balance sheet: Land, Buildings,...

    ABC has the following accounts in the Property, Plant and Equipment (PPE) section of its balance sheet: Land, Buildings, and Equipment. Each non-current asset account has a separate accumulated depreciation contra-account except for Land. ABC uses the historical cost principle to value its fixed assess after acquisition. ABC completed the following transactions in fiscal year 2017. ABC has a fiscal year end of 31st December. 3rd January 2017: ABC exchanged old equipment with accumulated depreciation of €130,000 (cost of acquisition...

  • Cabela. This is worth 32 points. Following are selected disclosures from Cabela's Inc. (an outdoor adventure...

    Cabela. This is worth 32 points. Following are selected disclosures from Cabela's Inc. (an outdoor adventure superstore): Property and equipment consisted of the following at the years ended: Depreciable Life in Years (in thousands) 2016 2015 Land $ 364,694 $ 325,576 Buildings and improvements 7 to 40 1,311,941 1,181,704 Furniture, fixtures, and equipment 3 to 15 905,739 834,656 Assets held under capital lease Up to 30 12,979 12,979 Property and equipment 2,595,353 7 2,354,915 Less accumulated depreciation and amortization (833,956)...

  • Harley-Davidson's financial statements provide the following information (in millions of dollars): As of Dec 31 (s...

    Harley-Davidson's financial statements provide the following information (in millions of dollars): As of Dec 31 (s in millions) 2017 2016 Property, Plant and Equipment $3285 $3,262 (Less: Accumulated Depreciation) ($2,317) ($2.280) Property, Plant and Equipment, net $968 $982 For the following questions, type your answer to the nearest millions of dollar. Do not include commas or dollar signs in your answer. Ret the answer is $503,000,000.09 then type "503) During 2017, Harley sold 51,000 Million worth of gross book value...

  • The non-current asset section of Zara Berhad at 31 December 2017 is as follows: Property, Plant...

    The non-current asset section of Zara Berhad at 31 December 2017 is as follows: Property, Plant and Equipment RM Land 65,000 Buildings (RM100,000 cost less RM2,000 depreciation) 98,000 Motor Vehicle (RM84,000 cost less RM28,800 depreciation) 55,200 Plant and Machineries (RM290,000 cost less RM134,800 depreciation) 155,200 Note: The company uses the straight-line depreciation method for all depreciable assets. The company adopts the revaluation model for land and buildings and the cost model for motor vehicle and plant and machineries. It is...

  • Extracts from the statements of financial position of Wild Boar Ltd as at 30 June 2017...

    Extracts from the statements of financial position of Wild Boar Ltd as at 30 June 2017 and 30 June 2016 are as follows: 2017 2016 30 June 30 June Assets Cash 150,000 180,000 Account receivables 96,000 85,000 Allowance for bad debts (7,000) (5,200) Prepaid rent 50,000 56,000 Equipment 80,000 80,000 Accum. dep-equipment (32,000) (28,000) Land 200,000 100,000 Machine 800 0 Accum. dep - Machine 50 0 Deferred tax asset 19,470 Liabilities Trade payables 68,000 76,000 Unearned service revenue 60,000 50,000...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT