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Can you show the calculations also PP&E 12/31/2014 Buildings, net 180,000 Land held for speculatio 100,000 Land 120,000 Equipment, net 210,000 Accumulated depreciation buildings -
Can you show the calculations also
PP&E 12/31/2014 Buildings, net 180,000 Land held for speculatio 100,000 Land 120,000 Equipment, net 210,000 Accumulated depreciation buildings - 40,000 Accumulated depreciation equipment - 140,000 Duiring 2015: Equipment (cost 40,000 and accumulated depreciation $22,000) was sold for $17,000 Buildings purchased for $40,000 Building (cost 50,000 and accumulated depreciation of 10,000) was sold for 70,000 Equipment was purchased for 32,000 Depreciation expense for 2015 was 50,000 ($6,000 buildings, 44,000 equipment) Prepare the Property, Plant and Equipment section of the balance sheet as it would be seen in a classified balance sheetStep by Step Solution
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