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 3 years agoRelated Solutions
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Selected accounts included in the property, plant, and 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.
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Selected accounts included in the property, plant, and equipment
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During 2020, the following transactions occurred.
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Equipment
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1.
A tract of land was acquired for $216,000 as a potential future
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2.
A plant facility consisting of land and building was acquired
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Domino Inc. has the following plant, property, and equipment assets on its balance sheet for 2021...
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($ thousands)
2021
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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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$
496,000
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341,000
Equipment
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Less:
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?
?
Total property,
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Building
$
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(155,000
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341,000
Equipment
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Total property, plant, and equipment
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Straight-line depreciation is used and a residual value of $31,000
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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
)
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 $31,000
for the building is anticipated.
The equipment is comprised of the following...
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$
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Building
$
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Less: Accumulated
depreciation
(210,000
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882,000
Equipment
178,600
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