Information related to plant assets, natural resources, and intangible assets at the end of 2022 for Windsor, Inc. is as follows: buildings $1,060,000, accumulated depreciation-buildings $648,000, goodwill $409,000, coal mine $501,000, and accumulated depletion-coal mine $103,000. Prepare a partial balance sheet of Windsor, Inc. for these items. (List Property, Plant and Equipment in order of Coal Mine and Buildings.)
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- Information related to plant assets, natural resources, and intangibles at the end of 2020 for Metlock, Inc. is as follows: buildings $1,190,000, accumulated depreciation—buildings $650,000, goodwill $450,000, coal mine $500,000, and accumulated depletion—coal mine $110,000.Prepare a partial balance sheet of Metlock, Inc. for these items. (List Property, Plant and Equipment in order of Coal Mine and Buildings.)Information related to plant assets, natural resources, and intangibles at the end of 2022 for Novak Company is as follows: buildings $1,120,000, accumulated depreciation-buildings $645,000. goodwill $440,000, coal mine $499,000, and accumulated depletion- coal mine $108,000. Prepare a partial balance sheet of Novak Company for these items. (List Property, Plant and Equipment in order of Coal Mine and Buildings) eTextbook and Media eTextbook List of Accounts Save for Later > > NOVAK COMPANY Balance Sheet (partial) 10 Assistance Used Attempts: 0 of 3 used Submit AnswerInformation related to plant assets, natural resources, and intangibles at the end of 2019 for Dent Company is as follows: buildings $1,100,000, accumulated depreciation—buildings $600,000, goodwill $410,000, coal mine $500,000, and accumulated depletion—coal mine $108,000.Prepare a partial balance sheet of Dent Company for these items. (List Property, Plant and Equipment in order of Coal Mine and Buildings.)
- Presented below is information related to plant assets, natural resources, and intangibles at year end on December 31, 2021, for Pronghorn Company: Buildings $1,255,000 Goodwill 700,000 Patents 500,000 Coal Mine 510,000 Accumulated Depreciation—Bldg. 646,000 Accumulated Depletion 294,000 1 .Prepare a partial balance sheet for Pronghorn Company that shows how the above listed items would be presented. (List Property, Plant and Equipment in order of Buildings and Coal Mine.)At December 31, 2022, Ayayai Corporation reported the following plant assets. Land $ 3,003,000 Buildings $26,510,000 Less: Accumulated depreciation—buildings 11,936,925 14,573,075 Equipment 40,040,000 Less: Accumulated depreciation—equipment 5,005,000 35,035,000 Total plant assets $52,611,075 During 2023, the following selected cash transactions occurred. Apr. 1 Purchased land for $2,202,200. May 1 Sold equipment that cost $600,600 when purchased on January 1, 2016. The equipment was sold for $170,170. June 1 Sold land for $1,601,600. The land cost $1,001,000. July 1 Purchased equipment for $1,101,100. Dec. 31 Retired equipment that cost $700,700 when purchased on December 31, 2013. No salvage value was received. Journalize the transactions. Ayayai uses straight-line depreciation for buildings and equipment. The buildings are estimated to have a 40-year useful life and no salvage…At December 31, 2023, Cord Company's plant asset and accumulated depreciation and amortization accounts had balances as follows: Category Plant Asset Accumulated Depreciation and Amortization Land $ 185,000 $ — Land improvements — — Buildings 2,000,000 438,502 Equipment 1,625,000 327,500 Automobiles and trucks 182,000 110,325 Leasehold improvements 236,000 118,000 Depreciation methods and useful lives: Buildings—150% declining balance; 25 years. Equipment—Straight line; 10 years. Automobiles and trucks—200% declining balance; 5 years, all acquired after 2020. Leasehold improvements—Straight line. Land improvements—Straight line. Depreciation is computed to the nearest month and residual values are immaterial. Transactions during 2024 and other information: On January 6, 2024, a plant facility consisting of land and building was acquired from King Corporation in exchange for 35,000 shares of Cord's common stock. On this date, Cord's stock had a fair value of $60 a…
- Information related to plant assets, extractable natural resources, and intangibles at the end of 2020 for Whispering Energy is as follows: buildings £1,020,000, accumulated depreciation-buildings £650,000, goodwill £410,000, coal mine £499,000, and accumulated depletion-coal mine £108,000. Prepare a partial statement of financial position of Whispering Energy for these items. (List Property, plant and equipment in order of coal mine and buildings.) WHISPERING ENERGY Statement of Financial Position (partial) > >At December 31, 2022, Swifty Company reported the following as plant assets. Land $ 4,080,000 Buildings $28,360,000 Less: Accumulated depreciation—buildings 12,210,000 16,150,000 Equipment 48,670,000 Less: Accumulated depreciation—equipment 5,160,000 43,510,000 Total plant assets $63,740,000 During 2023, the following selected cash transactions occurred. April 1 Purchased land for $2,000,000. May 1 Sold equipment that cost $780,000 when purchased on January 1, 2019. The equipment was sold for $468,000. June 1 Sold land purchased on June 1, 2013 for $1,410,000. The land cost $392,000. July 1 Purchased equipment for $2,430,000. Dec. 31 Retired equipment that cost $502,000 when purchased on December 31, 2013. Journalize the above transactions. The company uses straight-line depreciation for buildings and equipment. The buildings are estimated to have a 50-year life and no salvage value. The equipment is…At December 31, 2022, Swifty Company reported the following as plant assets. Land $ 3,980,000 Buildings $28,210,000 Less: Accumulated depreciation—buildings 13,200,000 15,010,000 Equipment 48,670,000 Less: Accumulated depreciation—equipment 4,980,000 43,690,000 Total plant assets $62,680,000 During 2023, the following selected cash transactions occurred. April 1 Purchased land for $2,200,000. May 1 Sold equipment that cost $840,000 when purchased on January 1, 2019. The equipment was sold for $504,000. June 1 Sold land purchased on June 1, 2013 for $1,450,000. The land cost $399,000. July 1 Purchased equipment for $2,480,000. Dec. 31 Retired equipment that cost $491,000 when purchased on December 31, 2013. 1. Journalize the above transactions. The company uses straight-line depreciation for buildings and equipment. The buildings are estimated to have a 50-year life and no salvage value. The equipment is…
- At December 31, 2027, Flint Corporation reported the following plant assets. Land $4,068,000 Buildings $26,700,000 Less: Accumulated depreciation-buildings 16,170,300 10,529,700 Equipment 54,240,000 Less: Accumulated depreciation-equipment 6,780,000 47,460,000 Total plant assets $62,057,700 During 2028, the following selected cash transactions occurred. Apr. 1 Purchased land for $2,983,200. May 1 Sold equipment that cost $813,600 when purchased on January 1, 2021. The equipment was so June 1 Sold land for $2,169,600. The land cost $1,356,000. July 1 Purchased equipment for $1,491,600. Dec. 31 Retired equipment that cost $949,200 when purchased on December 31, 2018. No salvage val (a) Prepare a tabular summary that includes the plant asset accounts and balances shown on the December 31, 2 · Decreases in assets, liabilities, or stockholders' equity require a negative sign or parentheses. -Increases in expenses and losses require a negative sign or parentheses. Increases in Accumulated…he plant asset and accumulated depreciation accounts of Pell Corporation had the following balances at December 31, 2020: Plant Asset Accumulated Depreciation Land $510,000 - Land Improvements 260,000 61,000 Building 2,300,000 366,000 Equipment 1,190,000 421,000 Automobiles 230,000 128,000 Transactions during 2021 were as follows: On January 2, 2021, equipment were purchased at a total invoice cost of $340,000, which included a $7,100 charge for freight. Installation costs of $43,000 were incurred. On March 31, 2021, a small storage building was donated to the company. The person donating the building originally purchased it three years ago for $35,000. The fair value of the building on the day of the donation was $22,500. On May 1, 2021, expenditures of $66,000 were made to repave parking lots at Pell’s plant location. The work was necessitated by damage caused by severe winter weather. The repair doesn’t provide future benefits beyond those originally…The plant asset and accumulated depreciation accounts of Pell Corporation had the following balances at December 31, 2020: Plant Asset AccumulatedDepreciation Land $ 400,000 $ — Land improvements 205,000 50,000 Building 1,750,000 355,000 Equipment 1,168,000 410,000 Automobiles 175,000 117,000 Transactions during 2021 were as follows: On January 2, 2021, equipment were purchased at a total invoice cost of $285,000, which included a $6,000 charge for freight. Installation costs of $32,000 were incurred. On March 31, 2021, a small storage building was donated to the company. The person donating the building originally purchased it three years ago for $24,000. The fair value of the building on the day of the donation was $17,000. On May 1, 2021, expenditures of $55,000 were made to repave parking lots at Pell’s plant location. The work was necessitated by damage caused by severe winter weather. The repair doesn’t provide future…