Examine the excerpt of a footnote from Bed Rock Corporation's September 30, 2021, annual report to follow. BEE (Click the icon to view the excerpt.) Read the requirements. 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. Bed Rock's largest category of assets is =S Excerpt Land Balances of Major Classes of Property and Equipment Are as follows (in thousands) Buildings and leasehold improvements Capitalized real estate leases Fixtures and equipment Construction in progress and equipment not yet in service Less accumulated depreciation and amortization Sep. 30, 2021 $ $ 76.591 $ 2,219,766 24,871 1,436,250 51,322 3,808,800 (1,866,966) Sep. 30, 2020 48,927 1,958,614 24,265 1,398,863 111,266 Its second largest category of assets is 1,941,834 $ 3.541.935 (1,688,818) 1,853,117 X Requirements 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? Print Done X
Examine the excerpt of a footnote from Bed Rock Corporation's September 30, 2021, annual report to follow. BEE (Click the icon to view the excerpt.) Read the requirements. 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. Bed Rock's largest category of assets is =S Excerpt Land Balances of Major Classes of Property and Equipment Are as follows (in thousands) Buildings and leasehold improvements Capitalized real estate leases Fixtures and equipment Construction in progress and equipment not yet in service Less accumulated depreciation and amortization Sep. 30, 2021 $ $ 76.591 $ 2,219,766 24,871 1,436,250 51,322 3,808,800 (1,866,966) Sep. 30, 2020 48,927 1,958,614 24,265 1,398,863 111,266 Its second largest category of assets is 1,941,834 $ 3.541.935 (1,688,818) 1,853,117 X Requirements 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? Print Done X
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text: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.
ges
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.
Bed Rock's largest category of assets is
Excerpt
Balances of Major Classes of Property and
Equipment Are as follows (in thousands)
Land
Buildings and leasehold improvements
Capitalized real estate leases
Fixtures and equipment
Construction in progress and equipment not yet in service
Less accumulated depreciation and amortization
-
Sep. 30, 2021
$
3,808,800
(1,866,966)
$ 1,941,834 $
Its second largest category of assets is
Sep. 30, 2020
76,591 $
48,927
2,219,766 1,958,614
24,871
24,265
1,436,250
1,398,863
51,322
111,266
- X
3,541,935
(1,688,818)
1,853,117
Requirements
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?
Print
- X
Done
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