A company has the following assets: $\begin{array}{lr}\text { Buildings and Equipment, }\
\text { less accumulated depreciation of } \$ 4,000,000 & \$ 23,000,000 \
\text { Copyrights } & 1,500,000 \
\text { Patents } & 3,000,000 \
\text { Land } & 5,000,000
\end{array}$ The total amount reported under Property, Plant, and Equipment would be
A)$32,500,000.
B)$27,000,000.
C)$29,500,000.
D)$28,000,000.

Question

Quizplus · Accepted Answer

The total amount reported under Property, Plant, and Equipment includes Buildings and Equipment less accumulated depreciation and Land. So, $23,000,000 - $4,000,000 + $5,000,000 = $28,000,000.

A Company Has the Following Assets The Total Amount Reported Under Property, Plant, and Equipment Would