Can you please create excel tables for each journal entry so that I can understand it
Property and equipment is depreciated using the straightline method over estimated useful lives or lease
terms if shorter. We amortize leasehold improvements purchased after the beginning of the initial lease term
over the shorter of the assets useful lives or a term that includes the original lease term, plus any renewals
that are reasonably assured at the date the leasehold improvements are acquired. Depreciation expense
for and was $ million, $ million, and $ million, respectively, including de
preciation expense included in Cost of Sales. For income tax purposes, accelerated depreciation methods
are generally used. Repair and maintenance costs are expensed as incurred
Facility preopening costs,
including supplies and payroll, are expensed as incurred.
We review longlived assets for impairment when events or changes in circumstancessuch as a
decision to relocate or close a store or distribution center, make significant software changes or discontinue
projectsindicate that the assets carrying value may not be recoverable. We recognized impairment losses
of $ million, $ million, and $ million during and respectively
Impairments are
recorded in SG&A Expenses on the Consolidated Statements of Operations.
REQUIRED
a
Prepare journal entries to record the following for :
i Depreciation expense
ii Capital expenditures
iii.
Disposal of property, plant, and equipment
iv Impairments and writedowns Assume that impairments and writedowns reduce the
property and equipment account, rather than increasing accumulated depreciation.
b
Estimate the amount of property and equipment that was acquired, if any, through noncash
transactions.Ca
