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 $4,300,000 is the correct choice
balaji rao answered 3 years agoRelated Solutions
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Selected accounts included in the property, plant, and equipment
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2.
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$
111,000
Building
$
496,000
Less: Accumulated depreciation
(155,000
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Equipment
138,450
Less: Accumulated depreciation
?
?
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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