1/30/2014Assignment Print Viewhttp://ezto.mhecloud.mcgraw-hill.com/hm_accounting.tpx?todo=printview12/1710.aw ard:1 out of1.00 pointThe Home Depot financial statements appear in Appendix A.a.1What depreciation method does Home Depot use for buildings, furniture, fixtures, and equipment?Straight-line methoda.2What are the useful lives over which these assets are depreciated?Buildings5to 45years Furniture, fixtures and equipment3to 20years b.Losses from the impairment of plant assets are recognized when the carrying amount of an assetexceeds the future cash flow expected from the use of the asset. Is the statement true or false?Truec.1Locate Home Depot's balance sheet and find the section entitled "Property and Equipment, at cost."As of January 31, 2010, determine the amount of the company's investment in property and equipmentand the amount of depreciation taken to date on those assets. (Omit the "$" sign in your response.)Investment$ 37,345million Depreciation$ 11,795million c.2Are these assets, taken as a whole, near the beginning or end of their estimated useful lives?
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