Tootsie Roll - 2004: $11,680 D) The amounts of property,...

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Mike Gemmati ACC 281-01 P. Brown 4/21/2008 Question 2(all numbers reported in thousands) A) The total cost and book value of property, plant and equipment at December 31, 2004 was $178,750. B) Tootsie Roll Industries, Inc. uses a straight line method of depreciation for financial reporting purposes. C) The amount of depreciation and amortization expense for the 3 years was as follows, 2002: $12,354 2003: $11,379
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Unformatted text preview: 2004: $11,680 D) The amounts of property, plant, and equipment purchased (capital expenditures) were as follows, 2003: ($12,150) 2004: ($17,948) E) Tootsie Roll accounted for its intangible assets in 2004 in accordance with SFAS No. 142, Goodwill and Other Intangible Assets which means assets with indefinite lives are not amortized but get tested for impairment annually instead....
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