Given Below Are Several Accounts and Balances A)Prepare the Property Plant and Equipment Section of the Balance

question 132

Essay

Given below are several accounts and balances:
$$\begin{array} { l r r } & \underline{ \text { Year 2 } }& \underline{\text { Year 1 }}\\\text { Accumulated depreciation } & \$ 278,125 & \$ 258,750 \\\text { Gain on disposal of plant assets } &28,125 \\\text { Equipment (Equipment with book value of } \$ 36,875 \text { was sold) } & 893,750 & 993,750 \\\text { Land } &250,000 & 250,000\\\text { Cash received from sale of plant asset } &65,000 \\\end{array}$$
A)Prepare the property plant and equipment section of the balance sheet at December 31,
Year 2 in the space provided below.
$$\begin{array} { | c | } \hline \text { Balance Sheet } \\\hline\\\\\\\\\\\\\hline\end{array}$$
B)By how much will net income increase or decrease during Year 2 as a result of the above information?

• A)Prepare the property plant and equipment section of the balance sheet at December 31,
• Year 2 in the space provided below.
• \[\begin{array} { | c | }
• \hline \text { Balance Sheet } \\\hline\\\\\\\\\\\\
• \hline
• \end{array}\]
• B)By how much will net income increase or decrease during Year 2 as a result of the above information?

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Definitions:

Tabular List

A systematic arrangement of data in rows and columns, commonly used for easy reference and analysis.

Typeset

The arrangement and setting of text material for printing or display, including font selection, size, and spacing.

ICD-10-CM Code Structure

A structure used in the International Classification of Diseases, 10th Revision, Clinical Modification (ICD-10-CM) that categorizes diseases and a wide variety of signs, symptoms, abnormal findings, complaints, social circumstances, and external causes of injury or disease.

Etiology

The study of the cause of disease.