question in ss below thanks 4546425226 Examine the excerpt of a footnote from Bed Rock Corporation's September 30, 2021, annual report to follow.(Click the icon to view the excerpt.)Read the requirements.ges1. What are Bed Rock's largest two categories of property and equipment as of September 30, 2021? Describe in general terms the types of expenditures included in these categories.Bed Rock's largest category of assets isExcerptBalances of Major Classes of Property andEquipment Are as follows (in thousands)LandBuildings and leasehold improvementsCapitalized real estate leasesFixtures and equipmentConstruction in progress and equipment not yet in serviceLess accumulated depreciation and amortization-Sep. 30, 2021$3,808,800(1,866,966)$ 1,941,834 $Its second largest category of assets isSep. 30, 202076,591 $48,9272,219,766 1,958,61424,87124,2651,436,2501,398,86351,322111,266- X3,541,935(1,688,818)1,853,117Requirements1. What are Bed Rock's largest two categories of property and equipment as ofSeptember 30, 2021? Describe in general terms the types of expendituresincluded in these categories.2. What was Bed Rock's gross cost of property and equipment at September 30,2021? What was the book value of property and equipment on this date? Whyis book value less than cost?Print- XDone

Leasehold improvements : Leasehold improvements are ones the lessee makes. (for example, new…

1. What are Bed Rock's largest two categories of property and equipment as of September 30, 2021? Describe in general terms the types of expenditures included in these categories. 2. What was Bed Rock's gross cost of property and equipment at September 30, 2021? What was the book value of property and equipment on this date? Why is book value less than cost?

1. What are Bed Rock's largest two categories of property and equipment as of September 30, 2021? Describe in general terms the types of expenditures included in these categories. 2. What was Bed Rock's gross cost of property and equipment at September 30, 2021? What was the book value of property and equipment on this date? Why is book value less than cost?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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