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At December 31, 20X1, Combs Company reported Property, Plant and Equipment of $9,000,000 and accumulated deprecation of $1,200,000. During 20X2, the company had the following
At December 31, 20X1, Combs Company reported Property, Plant and Equipment of $9,000,000 and accumulated deprecation of $1,200,000. During 20X2, the company had the following transactions: Purchased land and a building for $2,200,000 Sold equipment with a cost of $500,000 and accumulated depreciation of $450,000 for $200,000 Discarded equipment with a cost of $350,000 and accumulated depreciation of $350,000 Recorded depreciation expense of $2,900,000 on the plant and equipment Recorded an impairment loss of $1,000,000 on the equipment The balances in Property, Plant and Equipment and Accumulated Depreciation at December 31, 20X1 are Select answer from the options below $10,350,000 and $5,100,000. $11,350,000 and $3,300,000. $10,350,000 and $4,300,000. $11,200,000 and $5,100,000
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