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Use this information, along with other da ation at January 31, 2020. What percenta

Use this information, along with other da ation at January 31, 2020. What percenta

FINANCIAL ACCOUNTING
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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Plz uregntly help me sir
Refer to the financial statements of Lowe's Companies, Incorporated in Appendix B. (Note: Fiscal 2019 for Lowe's runs from February 2, 2019, to January 31, 2020.) Required: 1. The total cost of Property is $35,945 (million) at January 31, 2020. Use this information, along with other data reported on the balance sheet, to determine the amount of Accumulated Depreciation at January 31, 2020. What percentage is this of the total cost of property? $17.276 (million), 48.1% O $54,614 (million); 151.9% O $18,432 (million): 51.3% O $1.262 (million); 3.5% 2. What amount of Depreciation and Amortization Expense was reported for the year ended January 31, 2020? What percentage of net sales is it? O $1,404 (million); 2.1% O 1.262 (million): 29.5% • $1,262 (million); 1.7% O $1477 (million); 2.1% 3. What is the fixed asset turnover ratio for the year ended January 31, 2020? O 1.94 03.89 4.29 O 5717
Transcribed Image Text:Refer to the financial statements of Lowe's Companies, Incorporated in Appendix B. (Note: Fiscal 2019 for Lowe's runs from February 2, 2019, to January 31, 2020.) Required: 1. The total cost of Property is $35,945 (million) at January 31, 2020. Use this information, along with other data reported on the balance sheet, to determine the amount of Accumulated Depreciation at January 31, 2020. What percentage is this of the total cost of property? $17.276 (million), 48.1% O $54,614 (million); 151.9% O $18,432 (million): 51.3% O $1.262 (million); 3.5% 2. What amount of Depreciation and Amortization Expense was reported for the year ended January 31, 2020? What percentage of net sales is it? O $1,404 (million); 2.1% O 1.262 (million): 29.5% • $1,262 (million); 1.7% O $1477 (million); 2.1% 3. What is the fixed asset turnover ratio for the year ended January 31, 2020? O 1.94 03.89 4.29 O 5717
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