Question

Reitmans (Canada) Limited reported the following selected information as at January 31, 2015 (in thousands):

Accumulated amortization—software		$8,184
Accumulated depreciation—buildings		19,096
Accumulated depreciation—fixtures and equipment		68,010
Accumulated depreciation—leasehold improvements		83,299
Amortization expense		3,999
Buildings		45,633
Depreciation expense		42,410
Fixtures and equipment		131,073
Goodwill		42,426
Impairment loss		8,276
Land		5,860
Leasehold improvements		140,188
Operating leases		376,372
Reversal of impairment loss		775
Software (intangible assets)		28,261
Trademarks		499

(a)

Identify in which financial statement (statement of financial position, income statement, or neither) and which section of the statement each of the above items should be reported.

Account		Financial Statement		Section
Accumulated amortization—software
Accumulated depreciation—buildings
Accumulated depreciation—fixtures and equipment
Accumulated depreciation—leasehold improvements
Amortization expense
Buildings
Depreciation expense
Fixtures and equipment
Goodwill
Impairment loss
Land
Leasehold improvements
Operating leases
Reversal of impairment loss
Software (intangible assets)
Trademarks

Answer 1

Answer :

Account	Financial Statement ; Section
Accumulated amortization—software	Statement of financial position ; PPE
Accumulated depreciation—buildings	Statement of financial position ; PPE
Accumulated depreciation—fixtures and equipment	Statement of financial position ; PPE
Accumulated depreciation—leasehold improvements	Statement of financial position ; PPE
Amortization expense	Income statement ; Operating expense
Buildings	Statement of financial position ; PPE
Depreciation expense	Income statement ; Operating expense
Fixtures and equipment	Statement of financial position ; PPE
Goodwill	Neither ; Goodwill
Impairment loss	Income statement ; Operating expense
Land	Statement of financial position ; PPE
Leasehold improvements	Neither ; PPE
Operating leases (Note )	Income statement ; Operating expense
Reversal of impairment loss	Income statement ; Revenue
Software (intangible assets)	Statement of financial position ; Intangible asset
Trademarks	Statement of financial position ;  Intangible asset

Note :

Only Operating leases arrangements cannot be recorded anywhere, either in Income statement or Statement of financial position but operating lease rentals are either recorded as income or expense in Income statement.