Property, plant, and equi On January 2, 2021, Jenkins Company purchased land that cost $450,000, a building on the land that cost $1,260,000, and equipment that cost $60,000. The
building has an estimated useful life of 30 years. The equipment has an estimated useful life of 5 years.
Required:
Prepare the property. plant, and equipment section of the balance sheet as of December 31, 2021.
Note: Use straight-line depreciation with no salvage
value.
Jenkins Company
Balance Sheet (partial)
December 31
Property. Plant, and Equipment
(Choose one)
Total Property, Plant, and Equipment
$
?
Explanation
Explanation
Check