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Marta_Voda [28]
3 years ago
7

Information related to plant assets, natural resources, and intangibles at the end of 2020 for Cheyenne Corp. is as follows: bui

ldings $1,110,000, accumulated depreciation—buildings $651,000, goodwill $410,000, coal mine $500,000, and accumulated depletion—coal mine $104,000. Prepare a partial balance sheet of Cheyenne Corp. for these items. (List Property, Plant and Equipment in order of Coal Mine and Buildings.)
Business
1 answer:
Mkey [24]3 years ago
5 0

Answer:

Cheyenne Corp.

Balance Sheet

For the year ended December 31, 2020

<u>Assets</u> ...

Long term assets:

Plant, property & equipment

Coal mine                               $500,000

Acc. depletion, coal mines   <u>($104,000)</u>       $396,000

Buildings                                $1,110,000

Acc. depreciation, buildings <u>($651,000</u>)      <u>$459,000</u>

Total P,P & E                                                                     $855,000

Goodwill                                                                            <u>$410,000</u>

Total long term assets                                                                     $1,265,000              

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