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Prepare the property and equipment section of balance sheet

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Reference no: EM131794713

Problem

On January 2, 2016, Perry Company purchased land that cost $680,000, a building on the land that cost $560,000, and equipment that cost $54,000. The building has an estimated useful life of 28 years. The equipment has an estimated useful life of 6 years. Required:

Prepare the property, plant, and equipment section of the balance sheet as of December 31, 2016.

Reference no: EM131794713

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