accounting week 2 project

accounting week 2 project - franchises licenses Under...

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Under Armour 1 The balances of net property, plant, and equipment as of December 31, 2008 equaled $142, 528. This is also known as Under Armour’s gross fixed assets. There were multiple types of depreciation that were discussed in both annual reports from 2008 and 2009. The types that were conferred included double declining balance method and units of production method. Since no specific pieces of equipment were listed, Under Armour listed “general” useful lives for their equipment overall. The average useful life for equipment and furniture was anywhere between 3-5 years, property was 18 years plus, plants / factories are 18 years plus as well. The intangible assets that the company owns include patents, trademarks / brand names, and
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Unformatted text preview: franchises / licenses. Under Armour in 1996 created a specific type of clothing that required a special process to make, they have also trademarked their name, and they have acquired licensing so that they can sell goods to companies such as Sports Authority, Dick’s Sporting Goods, major sports teams, etc. Net fixed assets for Under Armour in 2008 equaled $73, 548 and in 2009 equaled $72, 926. The total assets in 2008 equaled $487, 555 and in 2009 equaled $545, 588. In 2008 the percentage of net fixed assets compared to the total assets was 15% and in 2009 was 13.3%....
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