The following property and equipment section was obtained from a recent Abbott Laboratories 10-K. Property and equipment, at cost Land.. $ 370,949 Buildings. Equipment.. Construction in progress. 2,655,356 8,813,517 920,599 12,760,421 Less: accumulated depreciation and amortization.. Net property and equipment.. 6,757,280 $ 6,003,141 Property and Equipment Depreciation and amortization are provided on a straight-line basis over the estimated useful lives of the assets. The following table shows estimated useful lives of property and equipment. Classification Estimated Useful Lives Buildings... Equipment.. 10 to 50 years (average 27 years) 3 to 20 years (average 11 years) During the year, the company reported $868,808 for depreciation expense. What is Abbott Laboratories' estimated useful life of depreciable assets?

The following property and equipment section was obtained from a recent Abbott Laboratories 10-K. Property and equipment, at cost Land.. $ 370,949 Buildings. Equipment.. Construction in progress. 2,655,356 8,813,517 920,599 12,760,421 Less: accumulated depreciation and amortization.. Net property and equipment.. 6,757,280 $ 6,003,141 Property and Equipment Depreciation and amortization are provided on a straight-line basis over the estimated useful lives of the assets. The following table shows estimated useful lives of property and equipment. Classification Estimated Useful Lives Buildings... Equipment.. 10 to 50 years (average 27 years) 3 to 20 years (average 11 years) During the year, the company reported $868,808 for depreciation expense. What is Abbott Laboratories' estimated useful life of depreciable assets?

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Description: The following property and equipment section was obtained from a recent Abbott Laboratories 10-K.Property and equipment, at costLand.$ 370,949Buildings.Equipment..Construction in progress..2,655,3568,813,517920,59912,760,421Less: accumulated depreci

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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