Tuesday 5 June 2012

These are selected account balances on December 31, 2008.

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
 

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