Question: At the end of 2014 Zaney Corp had total assets
At the end of 2014, Zaney, Corp. had total assets of $26 million and total liabilities of $15 million. Included in the assets were property, plant, and equipment with a cost of $14 million and accumulated depreciation of $5 million. During 2014, Zaney, Corp. earned total revenues of $24 million and had total expenses of $15 million. Show how Zaney, Corp. reported property, plant, and equipment on its balance sheet on December 31, 2014. What was the book value of property, plant, and equipment on that date?
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