Type Northlake’s property, plant and equipment note — cost, contra, carrying amount, by class

Answer

Land 200,000 Land improvements, less accumulated amortization 14,000 Building, less accumulated amortization 569,500 Equipment, less accumulated amortization 213,500 Total property, plant and equipment 997,000

Land has no contra; every other class is cost less accumulated amortization, with both figures disclosed. The total is what the balance sheet carries.

Lyryx Intermediate FA Vol 1 §9.5–9.6 (s.3061 betterment tests); Hermanson Vol 1 ch 10 (subsequent expenditures; presentation); Dauderis & Annand §8.1 (concept map K10–K11)