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In: Accounting

Refer to the December 2019 Annual Report of Chevron below. Using the information below Note: "Net...

Refer to the December 2019 Annual Report of Chevron below. Using the information below

Note: "Net before-tax gains on asset sales and investments" include gains/losses from investment sales including marketable securities.

  1. What is the net book value of Chevron's property and equipment on December 31, 2019?

At December 31      2019    and 2018

Total Current Assets                                                                         28,329                     34,021              

Long-term receivables, net                                                             1,511                     1,942     

Investments and advances                                                             38,688                  35,546      

Properties, plant and equipment, at cost                                   326,722               340,244      

Less: Accumulated depreciation                                                    176,228               171,037      

Properties, plant and equipment, net                                          150,494               169,207     

Deferred charges and other assets                                             10,532                    6,766      

Goodwill                                                                                                4,463                    4,518     

Assets held for sale                                                                          3,411                    1,863     

Total Assets                                                                                        $ 237,428     $ 253,863      

Solutions

Expert Solution

The net book value of Chevron's property and equipment on December 31, 2019 = $150,494

Properties, plant and equipment, at cost                                   326,722

Less: Accumulated depreciation                                                176,228

Properties, plant and equipment, net                                         150,494


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