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Selected accounts included in the property, plant, and equipment section of Wildhorse Corporation s balance sheet at December 3 1 , 2 0 2 4
Selected accounts included in the property, plant, and equipment section of Wildhorse Corporations balance sheet at December had the following balances.
Land $
Land improvements
Buildings
Equipment
During the following transactions occurred.
A tract of land was acquired for $ as a potential future building site.
A plant facility consisting of land and building was acquired from Mendota Company in exchange for shares of Wildhorses common stock. On the acquisition date, Wildhorses stock had a closing market price of $ per share on a national stock exchange. The plant facility was carried on Mendotas books at $ for land and $ for the building at the exchange date. Current appraised values for the land and building, respectively, are $ and $
Items of machinery and equipment were purchased at a total cost of $ Additional costs were incurred as follows.
Freight and unloading $
Sales taxes
Installation
Expenditures totaling $ were made for new parking lots, streets, and sidewalks at the corporations various plant locations. These expenditures had an estimated useful life of years.
A machine costing $ on January was scrapped on June Doubledecliningbalance depreciation has been recorded on the basis of a year life.
A machine was sold for $ on July Original cost of the machine was $ on January and it was depreciated on the straightline basis over an estimated useful life of years and a salvage value of $
a Calculate the balance at December in each of the following balance sheet accounts. Hint: Disregard the related accumulated depreciation accounts.
Balance at December
Land
$enter a dollar amount
Land improvements
$enter a dollar amount
Buildings
$enter a dollar amount
Equipment
$enter a dollar amount
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