Your analysis of Moen Corporation s fixed asset accounts

at the #2419
Your analysis of Moen Corporation’s fixed asset accounts at the end of 2016 reveals the
following information:1. Moen owns two tracts of land. The first, which cost $18,000, is being
held as a future building site. It has a cur-rent market value of $20,000. The second, which cost
$19,000, was purchased 10 years ago. The current office and factory buildings are on this site.
The land has a current market value of $56,000.2. Moen owns two buildings. The office building
and the factory building were both built 10 years ago at a cost of $50,000 and $120,000,
respectively. At that time, each was expected to have a life of 30 years and a residual value of
10% of original cost. They are being depreciated on a straight- line basis.3. Moen owns factory
machinery with a total cost of $51,000 and accumulated depreciation of $35,300. Included in
factory machinery is one machine that cost $7,000 and has accumulated depreciation of
$4,200. This machine is being held for resale and is not being used in operations.4. Moen owns
office equipment that cost $14,500 and has a book value of $6,300. It owns office furniture that
cost $17,900 and has a book value of $11,400.Required:Prepare the property, plant, and
equipment section of Moen’s 2016 ending balance sheet.View Solution:
Your analysis of Moen Corporation s fixed asset accounts at the

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