Question
Use the following data to determine the total dollar amount of assets to be classified as property, plant, and equipment. Tamarisk, Inc. Balance Sheet December
Use the following data to determine the total dollar amount of assets to be classified as property, plant, and equipment.
| Tamarisk, Inc. | |||||
| Balance Sheet | |||||
| December 31, 2022 | |||||
| Cash | $128700 | Accounts payable | $174500 | ||
|---|---|---|---|---|---|
| Accounts receivable | 124900 | Salaries and wages payable | 32800 | ||
| Inventory | 207300 | Note payable (due 2025) | 272000 | ||
| Short-term investments | 89000 | Total liabilities | $479300 | ||
| Land (held for future use) | 257500 | ||||
| Land | 281500 | ||||
| Buildings | $337000 | Common stock | $363000 | ||
| Less: Accumulated depreciation | (63200) | 273800 | Retained earnings | 727100 | |
| Franchise | 206700 | Total stockholders' equity | $1090100 | ||
| Total assets | $1569400 | Total liabilities and stockholders' equity | $1569400 | ||
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Financial Accounting
Authors: Charles T. Horngren, Jr Harrison, Walter T.
3rd Edition
0137419848, 978-0137419845
