Problem:
These are selected account balances on December 31, 2015.
|
Land (location of the office building)
|
$100,000
|
|
Land (held for future use)
|
150,000
|
|
Office Building
|
700,000
|
|
Inventory
|
200,000
|
|
Equipment
|
450,000
|
|
Office Furniture
|
150,000
|
|
Accumulated Depreciation
|
425,000
|
Required:
Question: What is the total amount of property, plant, and equipment that will appear on the balance sheet?
Note: Please show the work not just the answer.