ACC 291 Week 2 Wiley Questions Latest 2016 Version

Jun 7th, 2016
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Question 1 Suppose Nike, Inc. reported the following plant assets and intangible assets for the year ended May 31, 2014 (in millions): other plant assets $983.5; land $243.3; patents and trademarks (at cost) $547.4; machinery and equipment $2,012.3; buildings $943; goodwill (at cost) $188.9; accumulated amortization $54.1; and accumulated depreciation $2,397. Prepare a partial balance sheet for Nike for these items. (List Property, Plant and Equipment in order of Land, Buildings and Equipment.) Question 2 Match the statement with the term most directly associated with it. Rights, privileges, and competitive advantages that result from the ownership of long-lived assets that do not possess physical substance The allocation of the cost of an intangible asset to expense in a rational and systematic manner. A right to sell certain products or services, or use certain trademarks or trade names within a designated geographic area. Costs incurred by a company that often lead to patents or

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Intangible Assets919.8243.2511.72117.994117147.82137243.29412117.9919.821371841.72084.9171511.747.8463.9634.953670245700366001822024570291005367024570366007500536702457018220108805367062750368004400926062750627504600460044002300094003680040024002926016008125824010104240109200540004600Last Head Accumulated Depreciation - EquipmentAccumulated Depr BuildingAccum Depr Equipmetn33240003520000013212900 21987100443200005540000 3878000064091100243760066480017728001218800775600bldgequipment40102437600243760022160221604875201883606648001108017728001108000664800121880012188007756018836011080000775607756007756008800008800004348900434890046536003520000014092900 21107100440984008725500 353729006113360048752077560012631205540000221607756043489009988620872550056811740049411494114941149411740049411568118308308308308308308308308304400020004600046000Name: ACC 291 Week 2 Wiley Questions Latest 2016 VersionDescription:Question 1Suppose Nike, Inc. reported the following plant assets and intangible assets for the year ended May 31, 2014 (in millions): other plant assets $983.5; land $243.3; patents and trademarks (at cost) $547.4; machinery and equipment $2,012.3; buildings $943; goodwill (at cost) $188.9; accumulated amortization $54.1; and accumulated depreciation $2,397.Prepa

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