Homework Answers
Amount of property, plant and equipment appear on balance sheet
as below:
| Land | $ 150,000 |
| Land (not currently in use, held for future use) | $ 225,000 |
| Buildings | $ 1,200,000 |
| Equipment | $ 675,000 |
| Furniture | $ 150,000 |
| Gross Property, plant and equipment | $ 2,400,000 |
| Less: Accumulated depreciation | $ 450,000 |
| Net Property, plant and equipment | $ 1,950,000 |
| Hence, option A is the correct answer |
The other options are incorrect as they exclude Land (not currently in use, held for future use) or Accumulated depreciation
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These are selected account balances on December 31, 2022 Land Land (not currently in use, held...
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, 2014. Land: $100,000 Land (held for future use): $150,000 Buildings: $800,000 Inventory: $200,000 Equipment: $450,000 Furniture: $100,000 Accumulated Depreciation: $300,000 What is the amount of net property, plant, and equipment? $1,800,000 o $1,150,000 $1,300,000 $1,500,000
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
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
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
{equires Respondus LockDown Browser Time Left:0:34:38 Liul Woldeyesus: Attempt 1 Question 1 (1 point) Using the...
{equires Respondus LockDown Browser Time Left:0:34:38 Liul Woldeyesus: Attempt 1 Question 1 (1 point) Using the following balance sheet and income statement data, what is the debt to assets ratio? Current assets $ 21,000 Netcome Current liabilities 12,000 Stockholders' equity Average assets 132,000 Total liabilities Total assets 90.000 Average common shares outstanding was 15,000 $ 45,000 63.000 27,000 1) 20.5 percent 2) 30 percent 3) 33.3 percent 4) 40.9 percent Question 2 (1 point) These are selected account balances on...
10. On a classified balance sheet, companies usually list current assets a in alphabetical order b...
10. On a classified balance sheet, companies usually list current assets a in alphabetical order b with the largest dollar amounts first. c. in the order in which they are expected to be converted into cash. d. in the order of acquisition 11. These are selected account balances on December 31, 2022 Land $150,000 Land (held for future use) 225,000 Buildings 1,200,000 Inventory 300,000 Equipment 675,000 Furniture 150,000 Accumulated Depreciation 450.000 What is the total amount of property, plant, and...
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...
The financial statements of Green Corporation appear below: Green Corporation Comparative Balance Sheets December 31, 2018...
The financial statements of Green Corporation appear below: Green Corporation Comparative Balance Sheets December 31, 2018 - 19 —————————————————————————————————— Assets 2019 2018 Cash $150,000 $ 300,000 Short-term investments 150,000 450,000 Accounts receivable (net) 300,000 225,000 Inventory 450,000 525,000 Property, plant and equipment (net) 1,950,000 2,250,000 Total assets $3,000,000 $3,750,000 Liabilities and stockholders' equity Accounts payable $150,000 $ 225,000 Short-term notes payable 300,000 675,000 Bonds payable 600,000 1,200,000 Common stock 1,125,000 1,125,000 Retained earnings 825,000 525,000 Total liabilities and stockholders' equity ...
Current Attempt in Progress At December 31, 2022, Pronghorn Corporation reported the following plant assets. Land...
Current Attempt in Progress At December 31, 2022, Pronghorn Corporation reported the following plant assets. Land $3,498,000 Buildings $26,630,000 Less: Accumulated depreciation-buildings 13,904,550 12,725,450 Equipment 46,640,000 Less: Accumulated depreciation-equipment 5,830,000 40,810,000 Total plant assets $57,033,450 During 2023, the following selected cash transactions occurred. Apr. 1 Purchased land for $2,565,200. May 1 Sold equipment that cost $699,600 when purchased on January 1, 2016. The equipment was sold for $198,220. June 1 Sold land for $1,865,600. The land cost $1,166,000. July 1...
These are selected account balances on December 31, 2014. Land: $100,000 Land (held for future use): $150,000 Buildings: $800,000 Inventory: $200,000 Equipment: $450,000 Furniture: $100,000 Accumulated Depreciation: $300,000 What is the amount of net property, plant, and equipment? $1,800,000 o $1,150,000 $1,300,000 $1,500,000
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
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
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
{equires Respondus LockDown Browser Time Left:0:34:38 Liul Woldeyesus: Attempt 1 Question 1 (1 point) Using the following balance sheet and income statement data, what is the debt to assets ratio? Current assets $ 21,000 Netcome Current liabilities 12,000 Stockholders' equity Average assets 132,000 Total liabilities Total assets 90.000 Average common shares outstanding was 15,000 $ 45,000 63.000 27,000 1) 20.5 percent 2) 30 percent 3) 33.3 percent 4) 40.9 percent Question 2 (1 point) These are selected account balances on...
10. On a classified balance sheet, companies usually list current assets a in alphabetical order b with the largest dollar amounts first. c. in the order in which they are expected to be converted into cash. d. in the order of acquisition 11. These are selected account balances on December 31, 2022 Land $150,000 Land (held for future use) 225,000 Buildings 1,200,000 Inventory 300,000 Equipment 675,000 Furniture 150,000 Accumulated Depreciation 450.000 What is the total amount of property, plant, and...
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...
Current Attempt in Progress At December 31, 2022, Pronghorn Corporation reported the following plant assets. Land $3,498,000 Buildings $26,630,000 Less: Accumulated depreciation-buildings 13,904,550 12,725,450 Equipment 46,640,000 Less: Accumulated depreciation-equipment 5,830,000 40,810,000 Total plant assets $57,033,450 During 2023, the following selected cash transactions occurred. Apr. 1 Purchased land for $2,565,200. May 1 Sold equipment that cost $699,600 when purchased on January 1, 2016. The equipment was sold for $198,220. June 1 Sold land for $1,865,600. The land cost $1,166,000. July 1...
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