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A company has the following account balances at December 31, 2020: ...

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Accounting

A company has the following account balances at December 31, 2020:

Land 348,000
Building 676,000
Accumulated depreciation-Building 67,000
Depreciation-Building 13,000
Equipment 253,000
Accumulated depreciation-Equipment 120,000
Depreciation-Equipment 12,000

The $348,000 land total includes $152,000 of land held for future plant expansion. The equipment-related accounts include a fully-depreciated machine (cost: $40,000; accumulated depreciation: $40,000) that the company still uses in operations.

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