kosciusko corporation is a manufacturing firm that has 3600000 of long term assets that are used in operations/
Required:
(a) Prepare the PP&E section of Kosciusko Corporation balance sheet at the end of 2009.
(b) Why has no depreciation expense been recorded on the land owned by Kosciusko?
(c) Assuming that no PP&E assets have been acquired by Kosciusko during the year, what is the average useful life of each category of assets other than land?
(d) Assume that Kosciusko had acquired $60,000 of office furniture and $5,000 of delivery trucks during 2009. What is the capital spending to depreciation ratio for each of these two categories of assets? Discuss your assessment of this ratio.
(e) Besides the information you developed in parts (a) through (d), what other information regarding Kosciusko PP&E assets is needed by decision makers who use the company financial statements?
