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26 October, 15:17

These are selected account balances on December 31, 2014:Land $100,000Land (held for future use) $800,000Buildings $800,000Inventory $200,000Equipment $450,000Furniture $100,000Accumulated Depreciation $300,000What is the total amount of property, plant, and equipment that will appear on the balance sheet?

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  1. 26 October, 15:23
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    The total amount of property, plant, and equipment that will appear on the balance sheet is $$1,950,000

    Explanation:

    The computation of the total amount of fixed assets are shown below:

    = Land + Land (held for future use) + building + equipment + furniture - accumulated depreciation

    = $100,000 + $800,000 + $800,000 + $450,000 + $100,000 - $300,000

    = $1,950,000

    The inventory is a current assets so it would not be included while computing the total value of the fixed assets.
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