2. The following information was provided in a footnote from Nordstrom\'s 2005 a

Question

2. The following information was provided in a footnote from Nordstrom's 2005 annual report: January 29,2005 January 31,2004 3,928,936 Total land, building&equipment; Loss: accumulated depreciation Land, building&equipment; 4,090,973 (2310,607) (2,121 (2,121,158) 1,807,778 780,366 Depreciation expense for 2005 was $264,769. Capital expenditures on land, building & equipment totaled $246,851 and proceeds from the sale of fixed assets totaled $5,473 in 2005. What is the value of gross land, buildings and equipment sold in 2005 and what is the value of the associated accumulated depreciation for these sold fixed assets?

Explanation / Answer

The value of gross land, buildings and equipment sold in 2015

= 3,928,936 + 246,851 - 4,090,973 = $84,814

The value of the associated accumulated depreciation for these sold fixed assets

= 2,121,158 + 264,769 - 2,310,607 = $75,320

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