These are selected account balances on December 31 2016. $\begin{array}{lr}
\text { Land (location of the corporation's office building) } & \$ 140,000 \
\text { Land (held for future use) } & 150,000 \
\text { Corporate Office Building } & 750,000 \
\text { Inventory } & 200,000\
\text { Equipment } & 480,000 \
\text { Office Furniture } & 150,000 \
\text { Accumulated Depreciation } & 435,000
\end{array}$ What is the total net amount of property plant and equipment that will appear on the balance sheet?
A) $1085000
B) $1235000
C) $1285000
D) $1520000

Question

Quizplus · Accepted Answer

The total net amount of property, plant, and equipment (PP&E) is calculated by adding the values of land (both locations), corporate office building, equipment, and office furniture, then subtracting accumulated depreciation. This equals $140,000 (land for office) + $150,000 (land for future use) + $750,000 (office building) + $480,000 (equipment) + $150,000 (office furniture) - $435,000 (accumulated depreciation) = $1,085,000.

These Are Selected Account Balances on December 31 2016 What Is the Total Net Amount of Property Plant and