Question: Financial information for Buckle is presented in Appendix B at the end of the book. Required: 1. The summary of significant accounting policies is located

Financial information for Buckle is presented in Appendix B at the end of the book.

Required:
1. The summary of significant accounting policies is located in note A to the financial statements. Locate the section on property and equipment. What depreciation method does Buckle use? What are the estimated useful lives for property and equipment? What are the estimated useful lives for buildings?
2. Find note D entitled Property and Equipment. What is the cost of property and equipment?
What is the trend in property and equipment for the past two years?
3. From the balance sheet, what two other types of long-term assets are listed?

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