1. Plant and Equipment

   Your analysis of Moen Corporation's fixed asset accounts at year end reveals the following information:
   1. Moen owns two tracts of land. The first, which cost $18,000, is being held as a future building site. It has a current market value of $20,000. The second, which cost $21,000, was purchased 10 years ago. The current office and factory buildings are on this site. The land has a current market value of $56,000.
   2. Moen owns two buildings. The office building and the factory building were both built 10 years ago at a cost of $70,000 and $120,000, respectively. At that time, each was expected to have a life of 30 years and a residual value of 10% of original cost. They are being depreciated on a straight-line basis.
   3. Moen owns factory machinery with a total cost of $50,000 and accumulated depreciation of $35,400. Included in factory machinery is one machine that cost $7,000 and has accumulated depreciation of $4,200. This machine is being held for resale and is not being used in operations.
   4. Moen owns office equipment that cost $14,500 and has a book value of $6,300. It owns office furniture that cost $18,000 and has a book value of $11,400.

   Required:

   Prepare the property, plant, and equipment section of Moens year end balance sheet.

   MOEN CORPORATION
   Property, Plant, and Equipment Section of Balance Sheet
   December 31, Current Year
   	Cost	Accumulated Depreciation	Book Value
   Land	$fill in the blank 2		$fill in the blank 3
   Buildings	fill in the blank 5	$fill in the blank 6	fill in the blank 7
   Factory machinery	fill in the blank 9	fill in the blank 10	fill in the blank 11
   Office equipment	fill in the blank 13	fill in the blank 14	fill in the blank 15
   Office furniture	fill in the blank 17	fill in the blank 18	fill in the blank 19
   Totals	$fill in the blank 20	$fill in the blank 21	$fill in the blank 22

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