Question: At the end of 2014 Zeman Corp had total assets
At the end of 2014, Zeman, Corp. had total assets of $ 25 million and total liabilities of $ 13 million. Included in the assets were property, plant, and equipment with a cost of $ 9 million and accumulated depreciation of $ 3 million. During 2014, Zeman, Corp. earned total revenues of $ 20 million and had total expenses of $ 17 million. Show how Zeman, 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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