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28 Sep 2019
Kosciusko Corporation is a manufacturing firm that has$3,600,000 of long-term assets that are used in operations. Thefollowing is the acquisition cost, accumulated depreciation, anddepreciation expense for each asset through the end of 2009.
Description Acquisition Cost Accumulated Depreciationthrough 2009 Depreciation Expense for2009 Office Building $748,000 $230,000 $34,000 Production equipment $1,072,800 $112,000 $89,400 Office Furniture $131,500 $61,000 $26,300 Land $350,000 $0 $0 Delivery trucks $320,000 $125,000 $40,000
Prepare the PP&E Section of Kosciusko Corporationâs balancesheet at the end of 2009.
Why has no depreciation expense been recorded on the land ownedby Kosciusko?
Kosciusko Corporation is a manufacturing firm that has$3,600,000 of long-term assets that are used in operations. Thefollowing is the acquisition cost, accumulated depreciation, anddepreciation expense for each asset through the end of 2009.
| Description | Acquisition Cost | Accumulated Depreciationthrough 2009 | Depreciation Expense for2009 |
|---|---|---|---|
| Office Building | $748,000 | $230,000 | $34,000 |
| Production equipment | $1,072,800 | $112,000 | $89,400 |
| Office Furniture | $131,500 | $61,000 | $26,300 |
| Land | $350,000 | $0 | $0 |
| Delivery trucks | $320,000 | $125,000 | $40,000 |
Prepare the PP&E Section of Kosciusko Corporationâs balancesheet at the end of 2009.
Why has no depreciation expense been recorded on the land ownedby Kosciusko?
Irving HeathcoteLv2
28 Sep 2019