Plant and Equipment

Your analysis of Moen Corporation's fixed asset accounts at the end of 2016 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 $19,000, 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 $50,000 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 $51,000 and accumulated depreciation of $35,300. 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 $17,900 and has a book value of $11,400.

Required:

Prepare the property, plant, and equipment section of Moen's 2016 ending balance sheet.

MOEN CORPORATIONProperty, Plant, and Equipment Section of Balance SheetDecember 31, 2016

What must I do mathematically to determine what the historical cost, Accumulated depreciation, and Book value of the Buildings for part 2 of Question Ex. 04-02? Why is $19,000 the historical cost of the land on part 1 of Question Ex. 04-01?

Required: Prepare the property, plant, and equipment section of Moen's 2016 ending balance sheet. MOEN CORPORATION Property, Plant, and Equipment Section of Balance Sheet December 31, 2016 Cost Accumulated Book Value Depreciation Land 19,000 19,000 Buildings Factory machinery 44,000 31,100 12,900 Office equipment 14,500 8,200 6,300 Office furniture 17,900 6,500 11,400 Totals