The manager of Fast Out, a convenience store, presents the company 's balance sheet to a banker to obtain a loan The balance sheet reports that the company 's property, plant, and equipment have a book value of $155,000 and accumulated amortization of $75,000 What does book value of property, plant...

The book value of property plant and equipment is the cost ...

The manager of Fast-Out, a convenience store, presents the company's balance sheet to a banker to obtain

Question:

The manager of Fast-Out, a convenience store, presents the company's to a banker to obtain a loan. The reports that the company's property, plant, and equipment have a book value of $155,000 and accumulated amortization of $75,000. What does book value of property, plant, and equipment mean? What was the cost of the property, plant, and equipment?
Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...