Question: Consider two types of assets held by IBM land purchased
Consider two types of assets held by IBM: land purchased in 1912 when the company was known as the Computing-Tabulating-Recording Company, and machinery purchased and installed at its manufacturing plant in 2012. How close do you suppose the December 31, 2013, balance sheet value of each asset is to the fair value of the asset at that date, assuming the company uses U.S. GAAP? What if IBM uses IFRS?
Relevant QuestionsSuppose Emory University acquired a 20-acre parcel of land immediately adjacent to its existing facilities on January 2, 2012. The land included a warehouse, parking lots, and driveways. The university paid $800,000 cash and ...The Coca-Cola Company’s annual report for the year ended December 31, 2011, included the following ($ in millions): Property, plant, and equipment ...... $ 23,151Less: Accumulated depreciation .... 8,212 $ 14,939 ...Fleck Company began business with cash and common stockholders’ equity of $150,000. The same day, December 31, 20X1, the company acquired equipment for $60,000 cash. The equipment had an expected useful life of 5 years and ...1. On December 31, 2012, Sony Corporation purchased a patent on some broadcasting equipment for $900,000. The patent has 16 years of its legal life remaining. Because technology moves rapidly, Sony expects the patent to be ...The 2011 annual report of Wal-Mart, a major retailing company, listed the following property and equipment ($ in millions): Property and equipment, at cost ..... $148,584Less: Accumulated depreciation ..... ...
Post your question