Estimating Useful Life and Percent Used Up The property and equipment section of the lululemon athletica 2018 balance sheet follows.
Estimating Useful Life and Percent Used Up The property and equipment section of the lululemon athletica 2018 balance sheet follows.
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter7: Operating Assets
Section: Chapter Questions
Problem 21CE
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Estimating Useful Life and Percent Used Up
The property and equipment section of the lululemon athletica 2018
Property and Equipment (in thousands) | Feb. 3, 2019 | Jan. 28, 2018 |
---|---|---|
Land | $78,636 | $83,048 |
Buildings | 38,030 | 39,278 |
Leasehold improvements | 362,571 | 301,449 |
Furniture and fixtures | 103,733 | 91,778 |
Computer hardware | 69,542 | 61,734 |
Computer software | 230,689 | 173,997 |
Equipment and vehicles | 15,009 | 14,806 |
Work in progress | 74,271 | 51,260 |
Property and equipment, gross | 972,481 | 817,350 |
(405,244) | (343,708) | |
Property and equipment, net | $567,237 | $473,642 |
Depreciation expense related to property and equipment was $122.4 million and $108.00 million, for the years ended February 3, 2019, and January 28, 2018, respectively.
Required
c. Compute the estimated percent used up of lululemon’s
Note: Round percentage to one decimal place (for example, enter 6.7% for 6.6555%).
Answer%
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