Plant and Equipment

Your analysis of Moen Corporation's fixed asset accounts at the end of $2016$ reveals the following information:

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.$

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.

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.

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 CORPORATION

Property, Plant, and Equipment Section of Balance Sheet

December $31,2016$