Cannington, Inc., designs, manufactures, and markets personal computers and related software. The following information was...
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Accounting
Cannington, Inc., designs, manufactures, and markets personal computers and related software. The following information was taken from a recent annual report of Cannington industries:
| Property, Plant, and Equipment: | ||||
|
| Current Year | Preceding Year | ||
| Land and buildings | $621,340 |
| $360,377 |
|
| Machinery, equipment, and internal-use software | 590,273 |
| 466,005 |
|
| Office furniture and equipment | 93,201 |
| 80,774 |
|
| Other fixed assets related to leases | 751,821 |
| 565,419 |
|
| Accumulated depreciation and amortization | 789,102 |
| 658,620 |
|
a. Compute the book value of the fixed assets for the current year and the preceding year.
| Current year book value | $ |
| Preceding year book value | $ |
b. Would you normally expect the book value of fixed assets to increase or decrease during the year?
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