At the end of 2015, Zaney, Corp. had total assets of $26 million and total liabilities of

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At the end of 2015, 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 2015, 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 statement of financial position on December 31, 2015. What was the book value of property, plant, and equipment on that date?
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Financial Accounting

ISBN: 978-0133375534

2nd Canadian edition

Authors: Jeffrey Waybright, Robert Kemp, Sherif Elbarrad

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