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Business, 24.12.2020 16:40 dondre54

Use the following data to determine the total dollar amount of assets to be classified as property, plant, and equipment. Sheffield Corp. Balance Sheet December 31, 2022 Cash and cash equivalents $71500 Accounts payable $127500 Accounts receivable 93500 Salaries and wages payable 10000 Inventory 146000 Bonds payable 177500 Prepaid insurance 83000 Total liabilities $315000 Stock Investments 176000 Land 191500 Buildings $226500 Common stock $216500 Less: Accumulated depreciation (52500) 174000 Retained earnings 516000 Trademarks 112000 Total stockholders' equity $732500 Total assets $1047500 Total liabilities and stockholders' equity $1047500

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