Obj $1$: Exercise $10-1$ Inclusion in Property, Plant, and Equipment

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Guthrie Inc. must determine whether the following items are included in property, plant, and equipment. Answer yes or no for the items below:

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$1.$ idle equipment awaiting sale $\_\_\_\_\_$

$2.$ machinery kept on hand and used only when other machinery breaks $\_\_\_\_\_$

$3.$ land held for investment $\_\_\_\_\_$

$4.$ progress payments on a building being constructed by a contractor $\_\_\_\_\_$

$5.$ equipment leased to others $\_\_\_\_\_$

$6.$ obligation to remove leasehold improvement at the termination of a lease $\_\_\_\_\_$