ACT3391HomeworkFall2009solutions35

ACT3391HomeworkFall2009solutions35 - d. As of 12-31-08,...

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HOMEWORK - Fall 2009 35. (0.5 point each, unless otherwise noted) Answer the following related to ConocoPhillips (C) for the year ended December 31, 2008. Note that you can find C’s financial statements and related footnotes on C’s web page OR on the SEC’s web page. (Note that you will probably find it easier to look on C’s web page.) Make sure that you properly express your dollar amounts. $ in millions unless otherwise stated a. For the year ended 12-31-08, what was C’s depreciation, depletion and amortization expense? I ncome statement OR statement of cash flows – $9,012 b. What depreciation and amortization method(s) does C use? Footnote # 1 OR # 8 – unit-of-production AND straight-line c. How does C account for property disposition? Footnote # 1 – Comlete units – the asset cost and accumulated depreciation are eliminated and any gain or loss is reflected in othere income. Less than complue units – the difference between asset cost and salvage value is credited to accumulated depreciation.
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Unformatted text preview: d. As of 12-31-08, what was Cs gross PP&E balance? F ootnote # 8 $126,444 e. As of 12-31-08, what was Cs net PP&E balance? Balance sheet or footnote # 8 $83,947 (does not include the net PP&E that is included in assets held for sale as discussed in footnote # 6) f. For the year ended 12-31-08, what was Cs goodwill impairment charge? Income statement or footnote # 9 $25,443 g. As of 12-31-08, what was Cs goodwill balance? Balance sheet or footnote # 9 $3,778 h. As of 12-31-08, what was Cs intangible assets (other than goodwill) balance? Balance sheet or footnote # 9 $846 (does not include the intangibles that are included in assets held for sale as discussed in footnote # 6) How much of this amount relates to indefinite-lived intangible assets? Footnote # 9 $738 i. For the year ended 12-31-08, how much cash did C receive from asset dispositions? Statement of cash flows $1,640 1...
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This note was uploaded on 03/03/2011 for the course ACCT 3391 taught by Professor Turpin during the Spring '10 term at Troy.

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