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Problem 9-2AAt December 31, 2014, Navaro Corporation reported the following plant assets.Land$ 4,668

Problem 9-2AAt December 31, 2014, Navaro Corporation reported the following plant assets.Land$ 4,668,000Buildings$28,850,000DateAccount Titles and ExplanationLess: Accumulated depreciationâ€”buildings18,555,300EquipmentLandApril 1Less: Accumulated depreciationâ€”equipmentDebit10,294,70062,240,0003,423,2007,780,000Total plant assets CashCredit54,460,000$69,422,7003,423,200During 2015, the following selected cash transactions occurred.May 1Apr.May11JuneJulyDec.1131Depreciation ExpePurchased land for $3,423,200.Sold equipment that cost $933,600 when purchased on January 1, 2008. Theequipmentwassoldfor $264,520.AccumulatedDepSold land for $2,489,600. The land cost $1,556,000.Purchasedequipmentfor […]

Problem 9-2AAt December 31, 2014, Navaro Corporation reported the following plant assets.Land$ 4,668 Read More »

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