The following informetion applies to the questions cdisplayed below Fausett Elec

Question

The following informetion applies to the questions cdisplayed below Fausett Electronlcs, Inc., headquartered in Richfield, Minnesota, is one of the leading consumer electronics retalers, operating more than 1,000 stores In the United States, Europe, Canada, China, and Mexlco. The following was reparted in a recent annual report (5 in millions Current Year Prior Yoar ASSETS Property and Equipment S 764 2032 4.075 113 725 1741 3,050 Land and buldings Fixturos end oquipment Property urider capital lease Net property and equipment 78 elue 1.00 points Required information Required: 1. Assuming that Best Buy did not sell any property, plant, and equipment in the current year, what was the amount of depreciation expense recorded during the current year? (Enter your answer in millions.) million

Explanation / Answer

Question 3.

Amount of depreciation expenses to be recorded during the current year

          = Balance in Accumulated Depreciation in the current year - Balance in Accumulated Depreciation in the previous year

          = $ 2,786 Million - $ 2,288 Million

          = $ 498 Million

Question 4.

1.

EPS

OVERSTATED

2.

FIXED ASSET TURNOVER

OVERSTATED

3.

CURRET RATIO

N.E

4.

RETURN ON ASSET

OVERSTATED

1.

EPS

OVERSTATED

2.

FIXED ASSET TURNOVER

OVERSTATED

3.

CURRET RATIO

N.E

4.

RETURN ON ASSET

OVERSTATED

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