These are selected account balances on December 31, 2008. - 3105

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Request Description

These are selected account balances on December 31, 2008.

Land (location of the corporation's office building)$100,000

Land (held for future use)150,000

Corporate Office Building600,000

Inventory200,000

Equipment450,000

Office Furniture100,000

Accumulated Depreciation300,000

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

A.   $1,600,000

B.   $950,000 C.   $1,300,000

D.   $1,100,000

 
Solution Description

These are selected account balances on December 31, 2008.     

Land (location of the corporation's office building) $100,000