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57-1. (Learning Objective ing Objective 1: Measure the cost and book value of a company's...

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Accounting

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57-1. (Learning Objective ing Objective 1: Measure the cost and book value of a company's plant ine the excerpt of a footnote from Albrecht Corporation's September 30, 2018, assets) Examine the excerpt of a foot annual report to follow. LO 1 Balances of Major Classes of Property and Equipment Are as follows (in thousands) 3 Land 4 Buildings and leasehold improvements 5 Capitalized real estate leases 6 Fixtures and equipment 7 Construction in progress and equipment not yet in service Sep. 30, 2018 Sep. 30, 2017 $ 76,592 $ 48,923 2,219,7651,958,612 24,872 24,263 1,580,325 1,408,779 55,236 114,599 3,956,790 3,555,176 (1,877,967) (1,700,010) $ 2.078.823 1855 166 9 Less accumulated depreciation and amortization 11 1. What are Albrecht's largest two categories of property and equipment as of September 30, 2018? Describe in general terms the types of expenditures included in these categories. 2. What was Albrecht's gross cost of property and equipment at September 30, 2018? What was the book value of property and equipment on this date? Why is book value less than cost? Tant of individual assets in a lump-sum

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