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CP8-2 Finding Financial Information LO8-1, 8-2, 8-6 Refer to the financial statements of Urban Outfitters given in Appendix C at the end of this book.
CP8-2 | Finding Financial Information | LO8-1, 8-2, 8-6 | ||||
Refer to the financial statements of Urban Outfitters given in Appendix C at the end of this book. | ||||||
Required: | ||||||
1. What method of depreciation does the company use? | ||||||
2. What is the amount of accumulated depreciation and amortization at the end of the most recent reporting year? | ||||||
3. For depreciation purposes, what is the estimated useful life of furniture and fixtures? | ||||||
4. What was the original cost of leasehold improvements owned by the company at the end of the most recent reporting year? | ||||||
5. What amount of depreciation and amortization was reported as expense for the most recent reporting year? | ||||||
6. What is the companys fixed asset turnover ratio for the most recent year? What does it suggest? | ||||||
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