Given Below Are Several Accounts and Balances from Carrier Corporation's

question 39

Essay

Given below are several accounts and balances from Carrier Corporation's 2016 financial statements.Prepare the Property, Plant, and Equipment section of the balance sheet and a partial income statement in the space provided below using the accounts provided. $\begin{array}{lr}\text { Depreciation expense } & \$ 59,800 \\\text { Accumulated depreciation } & 257,400 \\\text { Gain on sale of plant asset } & 19,500 \\\text { Building } & 585,000 \\\text { Land } & 120,000 \\\text { Cash received from sale of plant asset } & 52,000\end{array}$

$\begin{array}{l}\text { BALANCE SHEET } &\text { INCOME STATEMENT }\\\hline\end{array}$ ​

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Definitions:

Code Number

A unique identifier assigned to individuals, samples, or data for the purposes of privacy or organization.

Printed Check

A preprinted form used to make payment from a bank account, containing the details of the payee and the amount.

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Reconciling

The process of ensuring that two sets of records (usually the balances of two accounts) are in agreement.