Question: Use the following data to determine the total dollar amount of assets to be classified as property, plant, and equipment Ace Supply Company Balance Sheet
Use the following data to determine the total dollar amount of assets to be classified as property, plant, and equipment Ace Supply Company Balance Sheet December 31, 2025 Cash $127500 Accounts payable $161500 Accounts receivable 122500 Salaries and wages payable 33000 Inventory 209100 Note payable (due 2028) 270600 Short-term investments 85400 Total liabilities 465100 Land (held for future use) 253000 Land 287000 Buildings $339500 Common stock 359000 Less: Accumulated depreciation (63700) 275800 Retained earnings 746700 Franchise 210500 Total stockholders' equity 1105700 Total assets $1570800 Total liabilities and stockholders' equity $1570800 $835600 $562800 $771900 $1024900
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