LONG-LIVED ASSETS Refer to the notes to the financial statements.The first note, Summary of Significant Accounting Policies,
Question:
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LONG-LIVED ASSETS
Refer to the notes to the financial statements.The first note, "Summary of Significant Accounting Policies," should provide information about the company's depreciation and amortization methods. You will also need to refer to the other notes to the financial statements and to the financial statements themselves in order to answer the following questions.
PLANT, PROPERTY & EQUIPMENT
What is the amount of the company's plant, property and equipment?
What depreciation method(s) does the company use (if not detailed out on the income statement, see the operating section of the Cash Flow Statement)?
What is the amount of depreciation expense for the current year?
INTANGIBLE ASSETS
Does the company have any intangible assets? If so, what are they?
Does the company report any goodwill? If so, what is the amount?
CASH FLOW STATEMENT
a. What was the amount spent to purchase property and equipment?
Current year $_______________Last year $_____________
b. What was the amount received (proceeds) from the sale of property and equipment?
Current year $______________Last year $____________
c. Did these activities result in net increase or decrease in the company's cash
balance?
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