P9.2 Journalize equipment transactions related to purchase, sales, retirements and depreciation. December 31, 2025, Arnold Corporation reported the following plant assets. Land Buildings Less: Accumulated depreciation - buildings Equipment Less: Accumulated depreciation - equipment Total plant assets ng 2026, the following selected cash transactions occurred. Apr. 1 Purchased land for $2,200,000. May 1 June 1 July 1 Dec. 31 $ 26,500,000 11,925,000 40,000,000 5,000,000 $ 3,000, 14,575, 35,000, $52,575, Sold equipment that cost $600,000 when purchased on January 1, 2019. T equipment was sold for $170,000. Sold land for $1,600,000. The land cost $1,000,000. Purchased equipment for $1,100,000. Retired equipment that cost $700,000 when purchased on December 31, 2016. No salvage value was received. ructions Prepare the plant assets section of Arnold's balance sheet at December 31, 2026. TE: Enter a formula, a cell reference, or a value (if you are unable to reference a cell), in yellow shaded input cells.

P9.2 Journalize equipment transactions related to purchase, sales, retirements and depreciation. December 31, 2025, Arnold Corporation reported the following plant assets. Land Buildings Less: Accumulated depreciation - buildings Equipment Less: Accumulated depreciation - equipment Total plant assets ng 2026, the following selected cash transactions occurred. Apr. 1 Purchased land for $2,200,000. May 1 June 1 July 1 Dec. 31 $ 26,500,000 11,925,000 40,000,000 5,000,000 $ 3,000, 14,575, 35,000, $52,575, Sold equipment that cost $600,000 when purchased on January 1, 2019. T equipment was sold for $170,000. Sold land for $1,600,000. The land cost $1,000,000. Purchased equipment for $1,100,000. Retired equipment that cost $700,000 when purchased on December 31, 2016. No salvage value was received. ructions Prepare the plant assets section of Arnold's balance sheet at December 31, 2026. TE: Enter a formula, a cell reference, or a value (if you are unable to reference a cell), in yellow shaded input cells.

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter19: Accounting For Plant Assets, Depreciation, And Intangible Assets

Section: Chapter Questions

Problem 4AP

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