Asked by Jesse Avila on May 13, 2024
Verified
The ending balance in the PP&E (net) account will be closest to:
A) $501,600
B) $396,455
C) $441,400
D) $505,400
PP&E (Net) Account
Property, Plant, and Equipment (Net) account shows the net book value of a company's fixed assets less accumulated depreciation.
- Acquire knowledge on the financial recording of raw materials purchases within the Raw Materials Inventory and Cash accounts.
Verified Answer
TN
Trinh NguyenMay 19, 2024
Final Answer :
C
Explanation :
Starting Balance in PP&E (Net) account = $260,000
Additions to PP&E = $244,000
Depreciation = $63,600
Ending Balance in PP&E (Net) account = Starting Balance + Additions - Depreciation
= $260,000 + $244,000 - $63,600
= $440,400
Therefore, the closest answer is option C: $441,400.
Additions to PP&E = $244,000
Depreciation = $63,600
Ending Balance in PP&E (Net) account = Starting Balance + Additions - Depreciation
= $260,000 + $244,000 - $63,600
= $440,400
Therefore, the closest answer is option C: $441,400.
Explanation : 
Learning Objectives
- Acquire knowledge on the financial recording of raw materials purchases within the Raw Materials Inventory and Cash accounts.
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