Chapter 8, Problem 1CP

1.

To determine

Ascertain the amount spent on property and equipment in fiscal year 2017 by the Company AE.

2.

To determine

Ascertain the typical estimated useful life of leasehold improvements for amortization purposes.

3.

To determine

Ascertain the original cost of fixtures and equipment held by the Company at the end of the most recent reporting year.

4.

To determine

Ascertain the amount of depreciation expense on property and equipment for the current year.

5.

To determine

Ascertain the fixed asset turnover ratio of the Company for the fiscal year ended February 3, 2018.