These are selected account balances on December 31, 2008. - 11062

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Request Description

These are selected account balances on December 31, 2008. 

Land (location of the corporation's office building)$150,000

Land (held for future use)225,000

Corporate Office Building900,000

Inventory300,000

Equipment675,000

Office Furniture150,000

Accumulated Depreciation450,000

What is the net amount of property, plant, and equipment that will appear on the balance sheet?

A.   $1,425,000 B.   $1,950,000 C.   $2,400,000 D.   $1,650,000

Solution Description

These are selected account balances on December 31, 2008.

Land (location of the corporation's office building) $150,000

Land (held for future use)            225,000