Solution List of Accounts Attempts: 3 of 3 used la Your answer is partially correct, Prepare the property, plant, and equipment section of the company's statement of financial position at December 31. (List Property Plant and Equipment in order of Land Buildings and Equipment.) PANY nancial Position (Partial) 22800000 97200000 145600000 Derec- e Textbook and Media Assistance Used List of Accounts Attempt 2 of used as a MacBook Pro DOO DOO FO F3 At January 1, 2022, Blossom Company reported the following property, plant, and equipment accounts: Accumulated depreciation-buildings $60,200,000 Accumulated depreciation-equipment 52,000,000 Buildings 97,200,000 Equipment 150,000,000 Land 20,000,000 The company uses straight-line depreciation for buildings and equipment, its year-end is December 31, and it makes adjusting entries annually. The buildings are estimated to have a 40-year useful life and no salvage value; the equipment is estimated to have a 10-year useful life and no salvage value. During 2022, the following selected transactions occurred: Apr. 1 Purchased land for $4.00 million. Paid $1.000 million cash and issued a 3-year, 6% note payable for the balance, Interest on the note is payable annually each April 1. May 1 Sold equipment for $200.000 cash. The equipment cost $2.40 million when originally purchased on January 1, 2014. June 1 Sold land for $3.60 million. Received $600,000 cash and accepted a 3-year, 5% note for the balance. The land cost $1.20 million when purchased on June 1, 2016. Interest on the note is due annually each June 1. July 1 Purchased equipment for $2.00 million cash. Dec 31 Retired equipment that cost $1 million when purchased on December 31, 2012. No proceeds were received Solution List of Accounts Attempts: 3 of 3 used Your answer is partially correct Prepare the property, plant, and equipment section of the company's statement of financial position at December 31. (List Property Plant and Equipment in order of Land Buildings and Equipment.) PANY nancial Position (Partial) V und En V 22800000 97200000 148600000 Depresion e Textbook and Media Assistance Used List of Accounts Attempt 2 of used SA MacBook Pro 80 F3