Homework Answers
Net property plant and equipment = $100000 + 800000 + 450000 + 100000 - 300000 = $1150000
Answer is b. $1150000
Land held for future use is not part of it, it is classified as long term investment
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These are selected account balances on December 31, 2014. Land: $100,000 Land (held for future use):...
These are selected account balances on December 31, 2022 Land Land (not currently in use, held...
These are selected account balances on December 31, 2022 Land Land (not currently in use, held for future use) Buildings Inventory Equipment Furniture Accumulated Depreciation $150,000 225,000 1,200,000 300,000 675,000 150,000 450,000 What is the total amount of property, plant and equipment that will appear on the balance sheet? $1.950,000 $1,725.000 $2,700,000 $2,250,000
tty These are selected account balances on December 31, 2020. Land (location of the office building)...
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These are selected account balances on December 31, 2020. Land (location of the office building) Land (held for future use) Office Building Inventory Equipment Office Furniture Accumulated Depreciation $100,000 150,000 700,000 200,000 450,000 150,000 425,000 What is the total amount of property, plant, and equipment that will appear on the balance sheet? a. $975,000 b. $1,125,000 c. $1,175,000 d. $1,400,000
These are selected account balances on December 31, 2022. Land Land (held for future use) Buildings...
These are selected account balances on December 31, 2022. Land Land (held for future use) Buildings Inventory Equipment Furniture Accumulated Depreciation $153000 242500 1160000 218000 671000 153000 450000 What is the total amount of property, plant, and equipment that will appear on the balance sheet? Its by Study O $2212000 $2662000 $1687000 $1929500 Click if you would like to Show Work for this question: Open Show Work
Question 7 --/1 View Policies Current Attempt in Progress These are selected account balances on December...
Question 7 --/1 View Policies Current Attempt in Progress These are selected account balances on December 31, 2017. Land Land (held for future use) Buildings Inventory Equipment Furniture Accumulated Depreciation $153500 231500 1128000 206000 663000 147000 450000 What is the total amount of property, plant, and equipment that will appear on the balance sheet? O $1641500 O $2616500 O $2166500 $1873000
Current Attempt in Progress The following selected account balances appear on the December 31, 2020 balance...
Current Attempt in Progress The following selected account balances appear on the December 31, 2020 balance sheet of Pina Co. Land (location of the office building) Land (held for future use) Corporate Office Building Inventory Equipment Office Furniture Accumulated Depreciation $142000 227000 777000 278000 141000 223000 579000 What is the total net amount of property, plant, and equipment that will be reported on the balance sheet? O $1531000 $1304000 O $1883000 $1582000
The following are the ending balances of accounts at December 31, 2021. for the Valley Pump...
The following are the ending balances of accounts at December 31, 2021. for the Valley Pump Corporation. Account Title Cash Accounts receivable Inventory Interest payable Investment in equity securities Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation equipment Copyright (net) Prepaid expenses (next 12 months) Accounts payable Deferred revenue (next 12 months) Notes payable Allowance for uncollectible accounts Common stock Retained earnings Totals Debits Credits $ 25,000 56,000 81,000 $ 10,000 44,000 120,000 300,000 100,000 75,000 25,000 12,000 32,000 65,000 20,000...
300,000 The following are the ending balances of accounts at December 31, 2021, for the Valley...
300,000 The following are the ending balances of accounts at December 31, 2021, for the Valley Pump Corporation, Debits Credits Account Title Cash $ 25,000 Accounts receivable 56,000 Inventory 81,000 $ 10,000 Interest payable Investment in equity securities 44,000 Land 120,000 Buildings Accumulated depreciation-buildings 100,000 Equipment 75,000 Accumulated depreciation-equipment 25,000 Copyright (net) 12,000 Prepaid expenses (next 12 months) 32,000 Accounts payable 65,000 Deferred revenue (next 12 months) 20,000 Notes payable 250,000 Allowance for uncollectible accounts 5,000 Common stock 200,000 Ratained...
The following are the ending balances of accounts at December 31, 2021, for the Valley Pump...
The following are the ending balances of accounts at December 31, 2021, for the Valley Pump Corporation. Account Title Debits Credits Cash $ 25,000 Accounts receivable 56,000 Inventory 81,000 Interest payable $ 10,000 Investment in equity securities 44,000 Land 120,000 Buildings 300,000 Accumulated depreciation—buildings 100,000 Equipment 75,000 Accumulated depreciation—equipment 25,000 Copyright (net) 12,000 Prepaid expenses (next 12 months) 32,000 Accounts payable 65,000 Deferred revenue (next 12 months) 20,000 Notes payable 250,000 Allowance for uncollectible accounts 5,000 Common stock 200,000 Retained...
On December 31, 2019, Purple Company purchased 80% of the common stock of Sage Company for...
On December 31, 2019, Purple Company purchased 80% of the common stock of Sage Company for $1,300,000. On this date, Sage had total owners' equity of $650,000 (common stock $100,000; other paid-in capital, $250,000; and retained earnings, $300,000). Any excess of cost over book value is due to the under or overvaluation of certain assets and liabilities. Assets and liabilities with differences in book and fair values are provided in the following table: Book Fair Value Value...
P7.1. Goodness Hospital's general ledger contains the following unadjusted account balances, among others, at December 31,...
P7.1. Goodness Hospital's general ledger contains the following unadjusted account balances, among others, at December 31, 20X1: 130 Acct. No. 104 Accounts receivable $ 850,000 105 Allowance for uncollectible accounts -0- 120 Land 25,000 Buildings 3,000,000 131 Accumulated depreciation-buildings -0- 140 Equipment 1,800,000 Accumulated depreciation equipment 501 Contractual adjustments 502 Charity care adjustments 607 Depreciation expense 609 Bad debt expense The following additional information is available: 1. Of the December 31, 20x1, accounts receivable, it is estimated that 15 percent...
These are selected account balances on December 31, 2022 Land Land (not currently in use, held for future use) Buildings Inventory Equipment Furniture Accumulated Depreciation $150,000 225,000 1,200,000 300,000 675,000 150,000 450,000 What is the total amount of property, plant and equipment that will appear on the balance sheet? $1.950,000 $1,725.000 $2,700,000 $2,250,000
tty
These are selected account balances on December 31, 2020. Land (location of the office building) Land (held for future use) Office Building Inventory Equipment Office Furniture Accumulated Depreciation $100,000 150,000 700,000 200,000 450,000 150,000 425,000 What is the total amount of property, plant, and equipment that will appear on the balance sheet? a. $975,000 b. $1,125,000 c. $1,175,000 d. $1,400,000
These are selected account balances on December 31, 2022. Land Land (held for future use) Buildings Inventory Equipment Furniture Accumulated Depreciation $153000 242500 1160000 218000 671000 153000 450000 What is the total amount of property, plant, and equipment that will appear on the balance sheet? Its by Study O $2212000 $2662000 $1687000 $1929500 Click if you would like to Show Work for this question: Open Show Work
Question 7 --/1 View Policies Current Attempt in Progress These are selected account balances on December 31, 2017. Land Land (held for future use) Buildings Inventory Equipment Furniture Accumulated Depreciation $153500 231500 1128000 206000 663000 147000 450000 What is the total amount of property, plant, and equipment that will appear on the balance sheet? O $1641500 O $2616500 O $2166500 $1873000
Current Attempt in Progress The following selected account balances appear on the December 31, 2020 balance sheet of Pina Co. Land (location of the office building) Land (held for future use) Corporate Office Building Inventory Equipment Office Furniture Accumulated Depreciation $142000 227000 777000 278000 141000 223000 579000 What is the total net amount of property, plant, and equipment that will be reported on the balance sheet? O $1531000 $1304000 O $1883000 $1582000
The following are the ending balances of accounts at December 31, 2021. for the Valley Pump Corporation. Account Title Cash Accounts receivable Inventory Interest payable Investment in equity securities Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation equipment Copyright (net) Prepaid expenses (next 12 months) Accounts payable Deferred revenue (next 12 months) Notes payable Allowance for uncollectible accounts Common stock Retained earnings Totals Debits Credits $ 25,000 56,000 81,000 $ 10,000 44,000 120,000 300,000 100,000 75,000 25,000 12,000 32,000 65,000 20,000...
300,000 The following are the ending balances of accounts at December 31, 2021, for the Valley Pump Corporation, Debits Credits Account Title Cash $ 25,000 Accounts receivable 56,000 Inventory 81,000 $ 10,000 Interest payable Investment in equity securities 44,000 Land 120,000 Buildings Accumulated depreciation-buildings 100,000 Equipment 75,000 Accumulated depreciation-equipment 25,000 Copyright (net) 12,000 Prepaid expenses (next 12 months) 32,000 Accounts payable 65,000 Deferred revenue (next 12 months) 20,000 Notes payable 250,000 Allowance for uncollectible accounts 5,000 Common stock 200,000 Ratained...
P7.1. Goodness Hospital's general ledger contains the following unadjusted account balances, among others, at December 31, 20X1: 130 Acct. No. 104 Accounts receivable $ 850,000 105 Allowance for uncollectible accounts -0- 120 Land 25,000 Buildings 3,000,000 131 Accumulated depreciation-buildings -0- 140 Equipment 1,800,000 Accumulated depreciation equipment 501 Contractual adjustments 502 Charity care adjustments 607 Depreciation expense 609 Bad debt expense The following additional information is available: 1. Of the December 31, 20x1, accounts receivable, it is estimated that 15 percent...
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