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Topic4.ACC502.docx(1) ACC-502 Long-term asset capitalization Grand Canyon University: A

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Topic4.ACC502.docx(1) ACC-502 Long-term asset capitalization Grand Canyon University: ACC-502 Long-term asset capitalization a.) What portion of Petrobras™ œEquipment and other assets had been œused up by the end ...

Topic4.ACC502.docx(1) ACC-502 Long-term asset capitalization Grand Canyon University: ACC-502 Long-term asset capitalization a.) What portion of Petrobras™ œEquipment and other assets had been œused up by the end of fiscal 2008? The portion of Petrobras™s Equipment and other assets that had been used up by the end of fiscal 2008; the difference between netbook value of fiscal year 2008 and 2007. 64145157- 49414524= 14730633. b.) How many years are left in the lives of Petrobras™ œEquipment and other assets, on average? State clearly any assumptions that you make in arriving at your estimate. The estimated life is normally defined as the period of time, usually expressed in years that the company is expected to derive economic benefits from the use of the asset (Young, Cohen, &Bens). To estimate the average useful life of Petrobras™ Equipment and other assets, on average first you must find out the current year depreciation (closing cost- (opening net+ accumulated depreciation): 119999208- (49414524+ 55854051) = 14730633. Then the number of year left: closing net/current year depreciation = 4.35 years. Assumptions include, additional assets acquired on the starting day of the financial year and depreciation method is straight line method. c.) Suppose the Petrobras assumes a zero-salvage value for their œEquipment and other assets. For each $100 in new asset investments, what is the annual amount of depreciation expense charged to the income statement? The annual amount of depreciation e. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . .. .. . . . . . . . . . . . . . . . . . .. . . . .

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