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Prepare the property and plant section of balance sheet

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Question - On January 2, 2020, Bennett Company purchased land that cost $400,000, a building on the land that cost $630,000, and equipment that cost $21,000. The building has an estimated useful life of 21 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, 2020.

Reference no: EM132603576

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