At December 31, 2022, Bramble Corporation reported the following plant assets. question: Prepare the plant...
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Accounting
At December 31, 2022, Bramble Corporation reported the following plant assets. question: Prepare the plant assets section of Brambles balance sheet at December 31, 2023. (Hint: You may wish to set up T accounts, post beginning balances, and then post 2023 transactions.) (List Plant Assets in order of Land, Building and Equipment.)
Land
$ 3,753,000
Buildings
$26,750,000
Less: Accumulated depreciationbuildings
14,918,175
11,831,825
Equipment
50,040,000
Less: Accumulated depreciationequipment
6,255,000
43,785,000
Total plant assets
$59,369,825
During 2023, the following selected cash transactions occurred.
Apr.
1
Purchased land for $2,752,200.
May
1
Sold equipment that cost $750,600 when purchased on January 1, 2016. The equipment was sold for $212,670.
June
1
Sold land for $2,001,600. The land cost $1,251,000.
July
1
Purchased equipment for $1,376,100.
Dec.
31
Retired equipment that cost $875,700 when purchased on December 31, 2013. No salvage value was received.
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