GIMBEL BROTHERS, INC.: APPRECIATION OF FIXED ASSETS; EARNINGS OF SUBSIDIARIES; RETAIL STORE ACCOUNTS.
The article presents accounting case of Gimbel Brothers Inc. Recent financial statements of Gimbel Brothers Inc. disclose several features of interest, which may be discussed under the three general headings of appreciation of fixed assets, handling of earnings of subsidiaries and a group of miscellaneous items of significance, several of them characteristic of a large retail merchandising establishment. The business of Gimbel Brothers, Inc. had its inception in Vincennes, Indiana, in 1842, but the present parent company was not incorporated until August 22, 1922, in the State of New York. The business is primarily of department-store character, including selling of a complete line of wearing apparel, dry goods, and house furnishings in conjunction with the operation of a number of restaurants and other service departments. Books of the corporation reflect two appraisals, both dating back to the early twenties. Immediately after incorporation in 1922, Gimbel Brothers Inc. acquired the net assets of two predecessor corporations and two subsidiary companies.
- DOI
- 10.2308/tar-7048078
- Volume
- 15 (3)
- Pages
- 406-412
- Language
- en
- Export
- BibTeX
- Sources
- openalex crossref