Question
At December 31, 2022, Whispering Winds Corp. reported the following plant assets. Land $ 3,860,000 Buildings $ 28,520,000 Less: Accumulated depreciationbuildings 12,834,000 15,686,000 Equipment 48,380,000
At December 31, 2022, Whispering Winds Corp. reported the following plant assets.
Land | $ 3,860,000 | |||
Buildings | $ 28,520,000 | |||
Less: Accumulated depreciationbuildings | 12,834,000 | 15,686,000 | ||
Equipment | 48,380,000 | |||
Less: Accumulated depreciationequipment | 6,047,500 | 42,332,500 | ||
Total plant assets | $ 61,878,500 |
During 2023, the following selected cash transactions occurred.
Apr. 1 | Purchased land for $ 2,080,000. | |
May 1 | Sold equipment that cost $ 1,170,000 when purchased on January 1, 2016. The equipment was sold for $ 351,000. | |
June 1 | Sold land for $ 1,430,000. The land cost $ 1,009,000. | |
July 1 | Purchased equipment for $ 1,109,000. | |
Dec. 31 | Retired equipment that cost $ 715,000 when purchased on December 31, 2013. No salvage value was received. |
Question:
Prepare the plant assets section of Whispering Windss balance sheet at December 31, 2023. (List Plant Assets in order of Land, Buildings and Equipment.)
Whispering Winds Corp. Balance Sheet (Partial) choose the accounting period For the Month Ended December 31, 2023December 31, 2023For the Year Ended December 31, 2023 | ||||||
---|---|---|---|---|---|---|
select an opening section name Current AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesPlant AssetsStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Plant AssetsTotal Stockholders' Equity | ||||||
enter a balance sheet item | $ enter a dollar amount | |||||
enter a balance sheet item | $ enter a dollar amount | |||||
select between addition and deduction AddLess: enter a balance sheet item | enter a dollar amount | enter a subtotal of two previous amounts | ||||
enter a balance sheet item | enter a dollar amount | |||||
select between addition and deduction AddLess: enter a balance sheet item | enter a dollar amount | enter a subtotal of two previous amounts | ||||
select a closing name for this statement Current AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesPlant AssetsStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Plant AssetsTotal Stockholders' Equity | $ enter a total dollar amount |
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