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The financial statements of Marks and Spencer plc (M&S) are available at the book’s companion website or can be accessed at http://corporate.marksandspencer....

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The financial statements of Marks and Spencer plc (M&S) are available at the book’s companion website or can be accessed at http://corporate.marksandspencer. com/documents/publications/2010/Annual_Report_2010.
Instructions
Refer to M&S’s financial statements and the accompanying notes to answer the following questions.
(a) What descriptions are used by M&S in its statement of financial position to classify its property, plant, and equipment?
(b) What method or methods of depreciation does M&S use to depreciate its property, plant, and equipment?
(c) Over what estimated useful lives does M&S depreciate its property, plant, and equipment?
(d) What amounts for depreciation and amortization expense did M&S charge to its income statement in 2010 and 2009?
(e) What were the capital expenditures for property, plant, and equipment made by M&S in 2010 and 2009?

Answered Same Day Dec 31, 2021

Solution

David answered on Dec 31 2021
110 Votes
The financial statements of Marks and Spencer plc. (M&S) are available at the
ook’s companion website or can be accessed at Instructions
1) What descriptions are used by M&S in its statement of financial position to
classify its property, plant, and equipment?
To classify property plant and equipment three categories are defined namely:-
1. Land and building
2. Furniture and fixtures
3. Assets held under lease.
The assets are recognized at cost less accumulated...
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