The following financial information is from Cook Company: Accounts Payable $ 55,000 Land $ 90,000 Inventory $ 10,500 Accounts Receivable $ 7,500 Equipment $ 8,000 Deferred Revenue $ 58,500 Short-Term Investments $ 20,000 Notes Receivable (due in 8 months) $ 45,500 Interest Payable $ 2,000 Patents $ 75,000 What is the total amount of property, plant, and equipment assuming the accounts above reflect normal activity?
The following financial information is from Cook Company: Accounts Payable $ 55,000 Land $ 90,000 Inventory $ 10,500 Accounts Receivable $ 7,500 Equipment $ 8,000 Deferred Revenue $ 58,500 Short-Term Investments $ 20,000 Notes Receivable (due in 8 months) $ 45,500 Interest Payable $ 2,000 Patents $ 75,000 What is the total amount of property, plant, and equipment assuming the accounts above reflect normal activity?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The following financial information is from Cook Company:
| Accounts Payable | $ | 55,000 |
| Land | $ | 90,000 |
| Inventory | $ | 10,500 |
| Accounts Receivable | $ | 7,500 |
| Equipment | $ | 8,000 |
| Deferred Revenue | $ | 58,500 |
| Short-Term Investments | $ | 20,000 |
| Notes Receivable (due in 8 months) | $ | 45,500 |
| Interest Payable | $ | 2,000 |
| Patents | $ | 75,000 |
What is the total amount of property, plant, and equipment assuming the accounts above reflect normal activity?
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