The following selected account balances appear on the December 31, 2018 balance sheet of Superchunk Co. $\begin{array}{lr}
\text { Land (location of the office building) } & \$ 150,000 \
\text { Land (held for future use) } & 225,000 \
\text { Office Building } & 800,000 \
\text { Inventory } & 300,000 \
\text { Equipment } & 675,000 \
\text { Office Furniture } & 225,000 \
\text { Accumulated Depreciation } & 640,000
\end{array}$ What is the total amount of property, plant, and equipment that will be reported on the balance sheet?
A) $1,210,000
B) $1,435,000
C) $1,510,000
D) $1,850,000

Question

Quizplus · Accepted Answer

The total amount of property, plant, and equipment is the sum of the land, office building, inventory, equipment, and office furniture, less the accumulated depreciation. Therefore, the total amount is $150,000 + $225,000 + $800,000 + $300,000 + $675,000 + $225,000 - $640,000 = $1,210,000.

The Following Selected Account Balances Appear on the December 31