On January 1, 2017, Plant Assets, Net Are $180,000 and on December

question 63

Multiple Choice

On January 1, 2017, plant assets, net are $180,000 and on December 31, 2017, plant assets, net are $290,000. Depreciation expense for the year is $120,000. No plant assets were sold or exchanged during the year. What is the cost of the plant assets acquired during the year?

• A)$0
• B)$60,000
• C)$110,000
• D)$230,000

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