16.Sunshine Company has the following assets: Land sold in the ordinary course of business 1,000,000 Land used as plant site 5,000,000 Building under construction to be used as new office 12,000,000 Building leased out under various operating leases 6,000,000 Land and building classified as "held for sale assets" 5,000,000 Spare parts and minor tools (with average useful life of 1 yr) 800,000 Equipment held for rental under various operating leases 1,200,000 Fixtures used in rendering services 500,000 Bearer animals 200,000 Bearer plants 100,000 How much is classified as property, plant and equipment? 18,800,000 24,800,000 27,900,000 28,200,000
16.Sunshine Company has the following assets: Land sold in the ordinary course of business 1,000,000 Land used as plant site 5,000,000 Building under construction to be used as new office 12,000,000 Building leased out under various operating leases 6,000,000 Land and building classified as "held for sale assets" 5,000,000 Spare parts and minor tools (with average useful life of 1 yr) 800,000 Equipment held for rental under various operating leases 1,200,000 Fixtures used in rendering services 500,000 Bearer animals 200,000 Bearer plants 100,000 How much is classified as property, plant and equipment? 18,800,000 24,800,000 27,900,000 28,200,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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16.Sunshine Company has the following assets:
Land sold in the ordinary course of business 1,000,000
Land used as plant site 5,000,000
Building under construction to be used as new office 12,000,000
Building leased out under various operating leases 6,000,000
Land and building classified as "held for sale assets" 5,000,000
Spare parts and minor tools (with average useful life of 1 yr) 800,000
Equipment held for rental under various operating leases 1,200,000
Fixtures used in rendering services 500,000
Bearer animals 200,000
Bearer plants 100,000
How much is classified as property, plant and equipment?
Land sold in the ordinary course of business 1,000,000
Land used as plant site 5,000,000
Building under construction to be used as new office 12,000,000
Building leased out under various operating leases 6,000,000
Land and building classified as "held for sale assets" 5,000,000
Spare parts and minor tools (with average useful life of 1 yr) 800,000
Equipment held for rental under various operating leases 1,200,000
Fixtures used in rendering services 500,000
Bearer animals 200,000
Bearer plants 100,000
How much is classified as property, plant and equipment?
18,800,000
24,800,000
27,900,000
28,200,000
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