I am having trouble with I6-41. Estimating useful life, percent used up, and Gain or losson disposal. Attached is the question from the book. Can you please help me direction on how to solve this multi-part problem?
Module 6 Inventories, Accounts Payable, and Long- Term Assets Volkswagen Daimler Cost of 165,934 31,466 129,872 101,688 Cost of Sales Goods Sold Inventories Sales Goods Sold Inventories 202,458 213,292 179,382 20,864 35,048 149,467 117,670 23,760 Required qu pute the 2015 inventory turnover and the 2015 gross profit margin(in %) for eachof these two scuss any difference in inventory turnover and gross profit margin between these two companies. Does the difference contirm expectations given their respective business models? Explain. How could the companies improve inventory turnover? Useful Life, Percent Used Up, and Gain or Loss on Disposal LO5, 6 lsky Energy is one of Canada's largest integrated energy companies. Based in Calgary, Alberta. Husky Energy (HSE) Husky is publicly traded on the Toronto Stock Exchange. The Company operates in Western and Atlan ic Canada, the United States and the Asia Pacific Region with upstream and downstream business seg The company uses IFRS to prepare its financial statements. During 2015, the company reported $8,484 million. The property and equipment footnote follows. depreciation expense of Retail and Oil and Processing Gas Transportation ty, Plant and Equipment (S millions) Properties and Storage Upgrading Refining Other Total s 47,974 $1,296 2.274 6,561 $2,632 $60,737 46 December 31, 2014 2,875 2,128 173 Transfers from exploration and evaluation Intersegment transfers Changes in asset retirement obligations Disposals and derecognition Exchange adjustments.. December 31, 2015 6 (107) (487) 720 (18) 1,152 1,876 $ 50,388 $1.465 $2313 $8,136 288 64.990 Accumulated depletion, depreciation, amortization and impairment (527) $(1,154) $(1,988) $(1,394) $(28,750) (365) (154) (8,484) $(23,687) Depletion, depreciation and amortization. (7,811) 370 December 31, 2014 (106) 18 390 Disposals and derecognition . Exchange adjustments December 31, 2015.... (170 (1) (341) (574) 1.260) 676) $(1.54) $(37356 $2,676) $(1,546) (37.356) $(31,300) $24,287 Net book value December 31, 2014.. . December 31, 2015 769 $1,120 4,573 $1,238 $ 31,987 1,053 5,460 1,142 27,634 891 Required the estimated useful life of Husky Energy's depreciable assets at year-end 2015. Assume that land is 10% of "Refining. b. Estimate the percent used up of Husky Energy's depreciable assets at year-end 2015. How do we the disposals and derecognition during the year. This refers to assets that were sold and the gain or loss on the disposal. this figure? removed from the balance sh eet during the year. Calculate the net book value of the total PPE dis- during the year. Assume that Husky Energy received CS72 million cash proceeds for the y
