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At December 31, 2025, Sheffield Corporation reported the following plant assets. Land Buildings Less: Accumulated depreciation-buildings Equipment Less: Accumulated depreciation-equipment Total plant assets Apr. May
At December 31, 2025, Sheffield Corporation reported the following plant assets. Land Buildings Less: Accumulated depreciation-buildings Equipment Less: Accumulated depreciation-equipment Total plant assets Apr. May 1 During 2026, the following selected cash transactions occurred. June 1 July 1 $26,670,000 Purchased land for $3,896,200. Dec. 31 12,001,500 70,840,000 8,855,000 $5,313,000 14,668,500 1 Sold equipment that cost $1,062,600 when purchased on January 1, 2019. The equipment was sold for $301,070. Sold land for $2,833,600. The land cost $1,771,000. Purchased equipment for $1,948,100. Retired equipment that cost $1,239,700 when purchased on December 31, 2016. No salvage value was received. 61,985,000 $81,966,500
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