Bakiponi Corp. provides the following data from its recent financial? statements

Question

Bakiponi Corp. provides the following data from its recent financial? statements: ?(Dollars in? millions) 2016 2017 Beginning Gross Fixed Assets $ 2 comma 340 comma 000 $ 2 comma 460 comma 000 Ending Gross Fixed Assets 2 comma 460 comma 000 2 comma 580 comma 000 Beginning Accumulated Depreciation 1 comma 210 comma 000 1 comma 410 comma 000 Currentminusyear Depreciation Expense 200 comma 000 250 comma 000 Current minusyear Sales Revenue 3 comma 750 comma 000 4 comma 620 comma 000 What is the average average remaining life of the? company's fixed assets as of the end of? 2017?

Explanation / Answer

Average remaining life of the company's fixed assets as of the end of 2017. Average remaining life = Ending net fixed assets/annual depreciation expense Ending gross fixed assets $2,580,000 Less: current year depreciation expense $250,000 Ending net fixed assets $2,330,000 Depreciation expense $250,000 Average remaining life (2330000/250000) 9

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