You are considering investing the cash gifts you received for graduation in various stocks. You have received several annual reports of major companies.
Required:
For each of the following, indicate where you would locate the information in an annual report. 1. Depreciation expense.
2. The detail on major classifications of long-lived assets.
3. Prior year’s accumulated depreciation.
4. The accounting method(s) used for financial reporting purposes.
5. Net amount of property, plant, and equipment.
6. Whether the company has had any capital expenditures for the year.
7. Policies on amortizing intangibles.
8. Any significant gains or losses on disposals of fixed assets.
9. The amount of assets written off as impaired during the year.