Question
In: Accounting
What is the total amount of property, plant, and equipment that will appear on the Balance Sheet?
These are selected account balances on December 31, 2017: Land (location of the corporation’s office building) $400,000, Land held for investment $600,000, Office Building $2,900,000, Inventory $800,000, Equipment $1,800,000, Office Furniture $400,000, Accumulated Depreciation $1,200,000. What is the total amount of property, plant, and equipment that will appear on the Balance Sheet?
- $5,700,000
- $6,900,000
- $4,300,000
- $4,900,000
Solutions
Expert Solution
Calculation of total amount of Property,Plant & Equipment that will appear on the Balance sheet (Partial)
| Liabilities | Amount$ | Assets | Amount$ |
| Plant, Property & Equipment | |||
| Land | 4,00,000 | ||
| Office Building | 29,00,000 | ||
| Equipment | 18,00,000 | ||
| Office Furniture | 4,00,000 | ||
| Less : Accumulated Deprecation | 12,00,000 | ||
| Total | 43,00,000 |
option $4,300,000 is the correct choice
option $4,300,000 is the correct choice
balaji rao answered 2 years agoRelated Solutions
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2. What depreciation methods are used by Coca-Cola and
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Selected accounts included in the property, plant, and equipment section of Tamarisk Corporation’s balance sheet at...
Selected accounts included in the property, plant, and equipment
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Equipment
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During 2020, the following transactions occurred.
1.
A tract of land was acquired for $153,000 as a potential future
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2.
A plant facility consisting of land and building was acquired
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Selected accounts included in the property, plant, and equipment section of Pearl Corporation’s balance sheet at...
Selected accounts included in the property, plant, and equipment
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had the following balances.
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During 2020, the following transactions occurred.
1. A tract of land was acquired for $219,000 as a potential
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2. A plant facility consisting of land and building was acquired
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Equipment
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During 2020, the following transactions occurred.
1.
A tract of land was acquired for $216,000 as a potential future
building site.
2.
A plant facility consisting of land and building was acquired
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Domino Inc. has the following plant, property, and equipment assets on its balance sheet for 2021...
Domino Inc. has the following plant, property, and equipment
assets on its balance sheet for 2021 and 2020:
($ thousands)
2021
2020
Land
$ 4,200
$ 4,000
Buildings
10,400
9,800
Machinery and equipment
6,500
6,800
21,100
20,600
Less Accumulated depreciation
1,200
1,000
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$
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Building
$
496,000
Less:
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(155,000
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341,000
Equipment
138,450
Less:
Accumulated depreciation
?
?
Total property,
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The equipment is comprised of the following...
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Company’s December 31, 2020, balance sheet contained the
following:
Property, plant, and equipment:
Land
$
111,000
Building
$
496,000
Less: Accumulated depreciation
(155,000
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341,000
Equipment
138,450
Less: Accumulated depreciation
?
?
Total property, plant, and equipment
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The land and building were purchased at the beginning of 2016.
Straight-line depreciation is used and a residual value of $31,000
for the building is anticipated.
The equipment is comprised of the following...
The property, plant, and equipment section of the Jasper Company’s December 31, 2020, balance sheet contained...
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Company’s December 31, 2020, balance sheet contained the
following:
Property, plant, and equipment:
Land
$
111,000
Building
$
496,000
Less: Accumulated depreciation
(155,000
)
341,000
Equipment
138,450
Less: Accumulated depreciation
?
?
Total property, plant, and equipment
?
The land and building were purchased at the beginning of 2016.
Straight-line depreciation is used and a residual value of $31,000
for the building is anticipated.
The equipment is comprised of the following...
The property, plant, and equipment section of the Jasper Company’s December 31, 2017, balance sheet contained...
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following:
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$
122,000
Building
$
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Less: Accumulated
depreciation
(210,000
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882,000
Equipment
178,600
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