Question: Solve E8.6 a) & b) only. No need of c) . Please type the answer. Thank you :) (b) Show how this patent is reported
Solve E8.6 a) & b) only. No need of c) . Please type the answer. Thank you :)

(b) Show how this patent is reported on the statement of financial position as at 30 June 2019. E8.6 Calculate average life, average age of non-current assets, and asset turnover. LO1, 14 In its 2019 annual report, Fish Ltd reports beginning total assets of $37.42 billion; ending total assets of $35.58 billion; beginning property, plant and equipment (at cost) of $40.8 billion; end- ing property, plant and equipment (at cost) $39.2 billion; ending accumulated depreciation of $9.6 billion; depreciation expense of $1600 million; and net sales of $21.17 billion. (a) Calculate the average useful life of Fish's property, plant and equipment. (b) Calculate the average age of Fish's property, plant and equipment. (c) Calculate Fish's asset turnover. E8.7 Prepare a partial statement of financial position. LO14 Irish Lid reported the following property, plant and equipment and intangibles for the year ended
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
