Bane Co. has the following assets on December 31, 2021: Land held for sale in the ordinary course of business 600,000 Land held for long-term capital appreciation 2,000,000 Land held for a currently determined future use 500,000 Land held for a future plant site 600,000 Equipment leased out under a normal lease 100,000 Building lea
Bane Co. has the following assets on December 31, 2021: Land held for sale in the ordinary course of business 600,000 Land held for long-term capital appreciation 2,000,000 Land held for a currently determined future use 500,000 Land held for a future plant site 600,000 Equipment leased out under a normal lease 100,000 Building lea
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter11: Depreciation, Depletion, Impairment, And Disposal
Section: Chapter Questions
Problem 7P: Dinnell Company owns the following assets: In the year of acquisition and retirement of an asset,...
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Question
Bane Co. has the following assets on December 31, 2021:
|
Land held for sale in the ordinary course of business |
600,000 |
|
Land held for long-term capital appreciation |
2,000,000 |
|
Land held for a currently determined future use |
500,000 |
|
Land held for a future plant site |
600,000 |
|
Equipment leased out under a normal lease |
100,000 |
|
Building leased out under a finance lease |
1,900,000 |
|
Building leased out under operating lease |
750,000 |
|
Right-of-use of asset relating to a building held by the entity and leased out under an operating lease |
1,200,000 |
Compute for the Total Amount of the Investment Property.
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