DuPont reported depreciation expense of $1,466 million on its consolidated financial statements for the period envded December

Question:

DuPont reported depreciation expense of $1,466 million on its consolidated financial statements for the period envded December 31, 2015. The following excerpt is taken from the company's consolidated balance sheet for the same year:
(Dollars in millions, except per share) December 31, 2015
Property, Plant and Equipment......................................$24,130
Less: Accumulated depreciation......................................14,346
Net property, plant, and equipment....................................9,784
Analyze:
1. What percentage of the original cost of property, plant, and equipment was depreciated during 2015?
2. What percentage of property, plant, and equipment cost was depreciated as of December 31, 2015?
3. If the company continued to record depreciation expense at this level each year, how many years remain until all assets would be fully depreciated? (Assume no salvage values.)
Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
Salvage Value
Salvage value is the estimated book value of an asset after depreciation is complete, based on what a company expects to receive in exchange for the asset at the end of its useful life. As such, an asset’s estimated salvage value is an important...
Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

College Accounting A Contemporary Approach

ISBN: 978-0077639730

4th edition

Authors: David Haddock, John Price, Michael Farina

Question Posted: