INTERMEDIATE ACCOUNTING(EBOOK-W/WILEY+)
INTERMEDIATE ACCOUNTING(EBOOK-W/WILEY+)
17th Edition
ISBN: 9781119614142
Author: Kieso
Publisher: WILEY
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Chapter 10, Problem 3Q
To determine

Introduction: Plant asset is a tangible asset. It consists of land, building, equipment, furniture, tools, and so forth.

To name: To name the items, in addition to the amount paid to the former owner or contractor, that may properly be included as part of the acquisition cost of the following plant assets.

(a) Land

(b) Machinery and equipment

(c) Buildings

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In September, one of the processing departments at Shenkel corporation had a beginning work-in-process inventory of $25,000 and an ending work-in-process inventory of $21,000. During the month, the cost of units transferred out from the department was $304,000. In the department's cost reconciliation report for September, the total cost accounted for would be:
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INTERMEDIATE ACCOUNTING(EBOOK-W/WILEY+)

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