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History Bookmarks Window Help nbox (6,847 messages, 1,794 uneead) neos "mont mos tosh | Griffin Douglas ALEKS Question 7 20,000, and equipment useful ide of 10 years. On January 2, 2018, Parker Company purchased land that cost $480,000, a building on the land that cost $ t that cost $51,000. The building has an estimated useful life of 26 years. The equipment has an estimated Required: Prepare the property, plant, and equipment section of the balance sheet as of December 31, 2018 Note: Use straight-line depreciation with no salvage value. Paker Conpany Propety, Haat, and Erie Next

Explanation / Answer

Solution:

Property, plant, and equipment Amount Working Land 480,000 Building 520,000 Depreciation 20,000 500,000 520,000/26 years Equipment 51,000 Depreciation 5100 45,900 51000/10 years Total property, plant, and equipment 1,025,900

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