In Its 2018 Annual Report to Shareholders, Plank Breweries Included

question 150

Essay

In its 2018 annual report to shareholders, Plank Breweries included the following note:

Property, Plant, and Equipment

Property, plant, and equipment consist of the following (in $ thousands):

Total depreciation expense was approximately $2.121 million and $2.179 million for the years ended December 31, 2018 and 2017, respectively.

Also, Plank Breweries reported the following information in its annual report (in $ thousands):


-Required:
Use a T- account to show the balances and changes during 2018 in Plank Breweries:
Property, plant, and equipment account and Accumulated depreciation-Property, plant, and equipment (PPE) account (in $ thousands).

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Definitions:

Least Squares Line

A line that minimizes the sum of the squares of the vertical deviations from each data point to the line, often used in linear regression.

Interval Variables

Variables where the intervals between the values are interpretable, allowing for meaningful comparison and arithmetic operations.

Interpretation

The process of explaining or understanding the meaning of data, actions, or events.

Coefficient Of Determination

A statistic that indicates the proportion of the variance in the dependent variable that is predictable from the independent variable(s).