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At December 31, 2019, Metlock, Inc. reported the following as plant assets. THE NUMBERS IN THE RED BOXES ARE WRONG AND THEY'RE WHAT I NEED
At December 31, 2019, Metlock, Inc. reported the following as plant assets.
THE NUMBERS IN THE RED BOXES ARE WRONG AND THEY'RE WHAT I NEED HELP WITH!
Problem 9-5A At December 31, 2019, Metlock, Inc. reported the following as plant assets. Land Buildings Less: Accumulated depreciation-buildings 13,240,000 15,880,000 Equipment Less: Accumulated depreciation-equipment 4,650,000 42,670,000 3,560,000 $29,120,000 47,320,000 Total plant assets $62,110,000 During 2020, the following selected cash transactions occurred. April 1 Purchased land for $2,190,000. May 1 Sold equipment that cost $1,080,000 when purchased on January 1, 2016. The equipment was sold for $648,000 June 1 Sold land purchased on June 1, 2010 for $1,510,000. The land cost $395,000. July 1 Purchased equipment for $2,480,000 Dec. 31 Retired equipment that cost $473,000 when purchased on December 31, 2010. The company received no proceeds related to salvageStep by Step Solution
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