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Use the following data to determine the total dollar amount of assets to be classified as property, plant, and equipment.

Nash's Trading Post, LLC Balance Sheet December 31, 2022

Cash $185000 Accounts payable $195000
Accounts receivable 140000 Salaries and wages payable 25000
Inventory 150000 Mortgage payable 225000
Prepaid insurance 85000 Total liabilities $445000
Stock investments 250000
Land 250000
Buildings $300000 Common stock $335000
Less: Accumulated
depreciation (55000) 245000 Retained earnings 725000
Goodwill 200000 Total stockholders' equity $1060000
Total assets $1505000 Total liabilities and stockholders' equity $1505000

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abiolataiwo2015

Answer:

$495,000

Explanation:

Calculation to determine the total dollar amount of assets to be classified as property, plant, and equipment

Land $250,000

Add:Buildings less accumulated depreciation $245,000

($300,000-$55,000)

Total $495,000

Therefore the total dollar amount of assets to be classified as property, plant, and equipment will be $495,000

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