Suppose Nike, Tnc. reported the following plant assets and intangible assets for
ID: 2515238 • Letter: S
Question
Suppose Nike, Tnc. reported the following plant assets and intangible assets for the year ended May 31, 2017 (in millions): other plant assets $925.0, land $230.0, patents and trademarks (at cost) $500.0, machinery and equipment $2,020.0, buildings $940.0, goodwll (at cost) $210.0, accumulated amortization $59.0, and accumulated depreciation S2,110.0. Prepare a partial balance sheet for Nike for these items. (List Property, Plant and Equipment in order of Land, Buildings and Equipment.) NIKE, INC. Partial Balance Sheet As of May 31, 2017 lions)Explanation / Answer
NIKE, INC.
Partial Balance Sheet
As of May 31, 2017
(in millions)
Property, plant, and equipment
Land ................................................................................................ $230.00
Buildings ...................................................................... 940.00
Machinery and equipment............................................ 2020.00
Other plant assets........................................................ 925.00
Less: Accumulated depreciation.................................. 2110.00 1775.00
Total property, plant, and equipment................. ........................2005.00
Intangible assets
Goodwill........................................................................ 210.00
Patents and trademarks................................................500.00
Less: Accumulated amortization...................................59.00
Total intangible assets 651.00
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