1 answer

Cannington, Inc., designs, manufactures, and markets personal computers and related software. The following information was taken...

Question:

Cannington, Inc., designs, manufactures, and markets personal computers and related software. The following information was t

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 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? Increase Decrease

Answers

a)
Current Year Book Value Preceding Year Book value
Land And Building 614820 356596
Machinery 584079 461115
Office Furniture And Equipment 92223 79927
Other Fixed Asset 743932 559486
Less:
Accumulated Depreciation And Losses -780821 -651709
Net Book Value 1254233 805415
b)
Book value normally expected to be decreased because there is
addition of depreciation and amortisation cost which reduces the book value of fixed assets.
.

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