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At December 31, 2017, Grand Company reported the following as plant assets. At December 31, 2017, Grand Company reported the following as plant assets. Land
At December 31, 2017, Grand Company reported the following as plant assets.
At December 31, 2017, Grand Company reported the following as plant assets. Land Buildings Less: Accumulated depreciation-buildings 12,870,000 15,530,000 Equipment Less: Accumulated depreciation-equipment 5,360,000 _42,550,000 $ 4,100,000 $28,400,000 47,910,000 Total plant assets 562,180,000 During 2018, the following selected cash transactions occurred. April 1 May 1 June 1 July 1 Dec. 31 Purchased land for $2,100,000. Sold equipment that cost $1,080,000 when purchased on January 1, 2014. The equipment was sold for $648,000. Sold land purchased on June 1, 2008 for $1,530,000. The land cost $408,000. Purchased equipment for $2,370,000 Retired equipment that cost $485,000 when purchased on December 31, 2008. The company received no proceeds related to salvageStep by Step Solution
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