Land Buildings Less: Accumulated depreciation-buildings Equipment Less: Accumulated depreciation-equipment Total plant assets April 1 May 1 June 1 $29,120,000 July 1 Dec. 31 13,240,000 During 2023, the following selected cash transactions occurred. 47,320,000 4,650,000 $3,560,000 15,880,000 42,670,000 $62,110,000 Purchased land for $2,190,000. Sold equipment that cost $1,080,000 when purchased on January 1, 2019. The equipment was sold for $648,000. Sold land purchased on June 1, 2013 for $1,510,000. The land cost $395,000. Purchased equipment for $2,480,000. Retired equipment that cost $473,000 when purchased on December 31, 2013.
Land Buildings Less: Accumulated depreciation-buildings Equipment Less: Accumulated depreciation-equipment Total plant assets April 1 May 1 June 1 $29,120,000 July 1 Dec. 31 13,240,000 During 2023, the following selected cash transactions occurred. 47,320,000 4,650,000 $3,560,000 15,880,000 42,670,000 $62,110,000 Purchased land for $2,190,000. Sold equipment that cost $1,080,000 when purchased on January 1, 2019. The equipment was sold for $648,000. Sold land purchased on June 1, 2013 for $1,510,000. The land cost $395,000. Purchased equipment for $2,480,000. Retired equipment that cost $473,000 when purchased on December 31, 2013.
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter7: Fixed Assets, Natural Resources, And Intangible Assets
Section: Chapter Questions
Problem 7.3.4MBA
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