Homework Answers
| Computation of book value | ||||||
| Current year | Preceding year | |||||
| Land and building | 572490 | 332044 | ||||
| Machinery equipment | 543866 | 429368 | ||||
| Office furniture | 85874 | 74424 | ||||
| Other fixed asset | 692713 | 520966 | ||||
| Less:Accumulated depreciation | -727062 | -606839 | ||||
| 1167881 | 749963 | |||||
| ans a) | Current year book value= | 1167881 | ||||
| Preceding year book value = | 749963 | |||||
| ans b) | Value of fixed asset has increased during the year as new asset has been bought. | |||||
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Calculator Book Value of Fived Assets Cannington, Inc.designs, manufactures, and markets personal computers and rel...
Cannington, Inc., designs, manufactures, and markets personal computers and related software
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): Land and buildingsCurrent YearPreceding YearMachinery, equipment, and internal-use software$628,030$364,257Office furniture and equipment596,629471,023Other fixed assets related to leases94,20581,644Accumulated depreciation and amortization759,916571,507(797,598)(665,712)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...
Book Value of Fixed Assets Cannington, Inc., designs, manufactures, and markets personal computers and related software....
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 Land and buildings $596,210 $345,802 566,400 447,158 Machinery, equipment, and internal-use software Other fixed assets related to leases 721,414 542,551 Accumulated depreciation and amortization (757,187) (631,983) a. Compute the book value of the fixed assets for the current year and the...
Cannington, Inc., designs, manufactures, and markets personal computers and related software. The following information was taken...
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 Land and buildings $614,820 $356,596 584,079 Machinery, equipment, and internal-use software 461,115 Office furniture and equipment 92,223 79,927 Other fixed assets related to leases 559,486 743,932 Accumulated depreciation and amortization (780,821) (651,709) a. Compute the book value of the fixed assets for the current year and...
Cannington, Inc., designs, manufactures, and markets personal computers and related software. The following information was taken...
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 Land and buildings $551,940 $320,125 Machinery, equipment, and internal-use software 524,343 413,955 Other fixed assets related to leases 667,847 502,265 Accumulated depreciation and amortization (700,964) (585,056) a. Compute the book value of the fixed assets for the current year and the preceding year. Current year book...
Cannington, Inc., designs, manufactures, and markets personal computers and related software. The following information was taken...
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 Land and buildings $699,410 $405,658 Machinery, equipment, and internal-use software 664,440 524,558 Other fixed assets related to leases 846,286 636,463 Accumulated depreciation and amortization (888,251) (741,375) a. Compute the book value of the fixed assets for the current year and the preceding year. Current year book...
Please help!!!!! Book Value of Fixed Assets Cannington Inc, designs, manufactures, and markets personal computers and...
Please help!!!!!
Book Value of Fixed Assets Cannington Inc, designs, manufactures, and markets personal computers and related software. Cannington also manufactures and distributes music players (cPod), mobile phones (CPhone), and smartwatches (Cannington Watch) along with related accessories and services, including online distribution of third-party music, videos, and applications. The following information was taken from a recent annual report of Cannington: Property, Plant, and Equipment (in millions): Current Year Preceding Year Land and buildings $485,470 $281,573 Machinery, equipment, and internal-use software...
Apple Inc. (AAPL) designs, manufactures, and markets personal computers and related software. Apple also manufactures and...
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Current Year Preceding Year Land and buildings $569,450 $330,281 Machinery, equipment, and internal-use software 540,978 427,088...
Current Year Preceding Year Land and buildings $569,450 $330,281 Machinery, equipment, and internal-use software 540,978 427,088 Other fixed assets related to leases 689,035 518,200 Accumulated depreciation and amortization (723,202) (603,617) a. Compute the book value of the fixed assets for the current year and the preceding year. Current year book value $ 1,076,261 Preceding year book value $ 671,952 A comparison of the book values of the current and preceding years indicates that they increased A comparison of the total...
Current Year Preceding Year Land and buildings $569,450 $330,281 Machinery, equipment, and internal-use software 540,978 427,088...
Current Year Preceding Year Land and buildings $569,450 $330,281 Machinery, equipment, and internal-use software 540,978 427,088 Other fixed assets related to leases 689,035 518,200 Accumulated depreciation and amortization (723,202) (603,617) a. Compute the book value of the fixed assets for the current year and the preceding year Current year book value 1,076,261 Preceding year book value 671,952 A comparison of the book values of the current and preceding years indicates that they increased A comparison of the total cost and...
PLEASE HELP! Determining Cost of Land On-Time Delivery Company acquired an adiacent lot to construct a...
PLEASE HELP!
Determining Cost of Land On-Time Delivery Company acquired an adiacent lot to construct a new warehouse, paying $30,000 in cash and giving a short-term nate for $289.000. Legal fees paid were $1,765, delinquent taxes assumed were $10,700, and fees paid to remove an old building from the land were $17,800. Materials salvaged from the demolition of the building were sold for $4,800. A contractor was paid $969,800 to construct a new warehouse. Determine the cost of the land...
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 Land and buildings $596,210 $345,802 566,400 447,158 Machinery, equipment, and internal-use software Other fixed assets related to leases 721,414 542,551 Accumulated depreciation and amortization (757,187) (631,983) a. Compute the book value of the fixed assets for the current year and the...
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 Land and buildings $614,820 $356,596 584,079 Machinery, equipment, and internal-use software 461,115 Office furniture and equipment 92,223 79,927 Other fixed assets related to leases 559,486 743,932 Accumulated depreciation and amortization (780,821) (651,709) a. Compute the book value of the fixed assets for the current year and...
Please help!!!!!
Book Value of Fixed Assets Cannington Inc, designs, manufactures, and markets personal computers and related software. Cannington also manufactures and distributes music players (cPod), mobile phones (CPhone), and smartwatches (Cannington Watch) along with related accessories and services, including online distribution of third-party music, videos, and applications. The following information was taken from a recent annual report of Cannington: Property, Plant, and Equipment (in millions): Current Year Preceding Year Land and buildings $485,470 $281,573 Machinery, equipment, and internal-use software...
Current Year Preceding Year Land and buildings $569,450 $330,281 Machinery, equipment, and internal-use software 540,978 427,088 Other fixed assets related to leases 689,035 518,200 Accumulated depreciation and amortization (723,202) (603,617) a. Compute the book value of the fixed assets for the current year and the preceding year. Current year book value $ 1,076,261 Preceding year book value $ 671,952 A comparison of the book values of the current and preceding years indicates that they increased A comparison of the total...
Current Year Preceding Year Land and buildings $569,450 $330,281 Machinery, equipment, and internal-use software 540,978 427,088 Other fixed assets related to leases 689,035 518,200 Accumulated depreciation and amortization (723,202) (603,617) a. Compute the book value of the fixed assets for the current year and the preceding year Current year book value 1,076,261 Preceding year book value 671,952 A comparison of the book values of the current and preceding years indicates that they increased A comparison of the total cost and...
PLEASE HELP!
Determining Cost of Land On-Time Delivery Company acquired an adiacent lot to construct a new warehouse, paying $30,000 in cash and giving a short-term nate for $289.000. Legal fees paid were $1,765, delinquent taxes assumed were $10,700, and fees paid to remove an old building from the land were $17,800. Materials salvaged from the demolition of the building were sold for $4,800. A contractor was paid $969,800 to construct a new warehouse. Determine the cost of the land...
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