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At December 31, 2022, Blue! Land Buildings Less: Accumulated depreciation-buildings Equipment 48.930,000 Less: Accumulated depreciation-equipment 5,430,000 Total plant assets $29,090,000 12.460,000 During 2023, the following selected cash transactions occurred. April 1 May 1 June 1 July 1 Dec. 31 (c) $3.560,000 16.630.000 43,500,000 $63.690.000 Purchased land for $2,000,000. Sold equipment that cost $1,170,000 when purchased on January 1, 2019. The equipment was sold for $702,000. Sold land purchased on June 1, 2013 for $1,470,000. The land cost $410,000. Purchased equipment for $2,470,000 Retired equipment that cost $473,000 when purchased on December 31, 2013. Prepare the plant assets section of Blue Spruce's balance sheet at December 31, 2023. (List Plant Assets in order of Land, Building and Equipment) Blue Spruce Company Balance Sheet (Partial)

At December 31, 2022, Blue! Land Buildings Less: Accumulated depreciation-buildings Equipment 48.930,000 Less: Accumulated depreciation-equipment 5,430,000 Total plant assets $29,090,000 12.460,000 During 2023, the following selected cash transactions occurred. April 1 May 1 June 1 July 1 Dec. 31 (c) $3.560,000 16.630.000 43,500,000 $63.690.000 Purchased land for $2,000,000. Sold equipment that cost $1,170,000 when purchased on January 1, 2019. The equipment was sold for $702,000. Sold land purchased on June 1, 2013 for $1,470,000. The land cost $410,000. Purchased equipment for $2,470,000 Retired equipment that cost $473,000 when purchased on December 31, 2013. Prepare the plant assets section of Blue Spruce's balance sheet at December 31, 2023. (List Plant Assets in order of Land, Building and Equipment) Blue Spruce Company Balance Sheet (Partial)

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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To At December 31, 2022, Blue Spruce Company reported the following as plant assets Land Buildings Less: Accumulated depreciation-buildings Equipment Less: Accumulated depreciation-equipment Total plant assets April 1 May 1 June 1 July 1 Dec. 31 (c) $29,090,000 Cost of Goods Sold 12,460,000 48,930,000 5,430,000 During 2023, the following selected cash transactions occurred. Purchased land for $2,000,000. Sold equipment that cost $1,170,000 when purchased on January 1, 2019. The equipment was sold for $702.000. Sold land purchased on June 1, 2013 for $1,470,000. The land cost $410,000. Purchased equipment for $2.470,000. Retired equipment that cost $473,000 when purchased on December 31, 2013. ♥: $3,560,000 16.630,000 43,500,000 $63.690,000 Prepare the plant assets section of Blue Spruce's balance sheet at December 31, 2023. (List Plant Assets in order of Land, Buildings and Equipment) Blue Spruce Company Balance Sheet (Partial)
Transcribed Image Text:To At December 31, 2022, Blue Spruce Company reported the following as plant assets Land Buildings Less: Accumulated depreciation-buildings Equipment Less: Accumulated depreciation-equipment Total plant assets April 1 May 1 June 1 July 1 Dec. 31 (c) $29,090,000 Cost of Goods Sold 12,460,000 48,930,000 5,430,000 During 2023, the following selected cash transactions occurred. Purchased land for $2,000,000. Sold equipment that cost $1,170,000 when purchased on January 1, 2019. The equipment was sold for $702.000. Sold land purchased on June 1, 2013 for $1,470,000. The land cost $410,000. Purchased equipment for $2.470,000. Retired equipment that cost $473,000 when purchased on December 31, 2013. ♥: $3,560,000 16.630,000 43,500,000 $63.690,000 Prepare the plant assets section of Blue Spruce's balance sheet at December 31, 2023. (List Plant Assets in order of Land, Buildings and Equipment) Blue Spruce Company Balance Sheet (Partial)
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