Reference no: EM132776616

Jane owns a women's clothing store:

Problem 1: Provide two examples of long-term assets that the business owns.

Problem 2: Classify the assets (i.e. building, equipment, furniture and fixtures, etc.)

Problem 3: What depreciation method will you use to depreciate this asset? Explain why.

Problem 4: How does depreciation affect the income statement and balance sheet?

Problem 5: Explain how depreciation might affect your decisions to purchase expensive equipment or real estate