The balance in the equipment account is $3,150,000, and the balance in the accumulated depreciation-equipment account is
Question:
a. What is the book value of the equipment?
b. Does the balance in the accumulated depreciation account mean that the equipment's loss of value is $2,075,000? Explain. Discuss in detail.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 83% (12 reviews)
a 1075000 3150000 2075000 b No Depreci...View the full answer
Answered By
Aysha Ali
my name is ayesha ali. i have done my matriculation in science topics with a+ . then i got admission in the field of computer science and technology in punjab college, lahore. i have passed my final examination of college with a+ also. after that, i got admission in the biggest university of pakistan which is university of the punjab. i am studying business and information technology in my university. i always stand first in my class. i am very brilliant client. my experts always appreciate my work. my projects are very popular in my university because i always complete my work with extreme devotion. i have a great knowledge about all major science topics. science topics always remain my favorite topics. i am also a home expert. i teach many clients at my home ranging from pre-school level to university level. my clients always show excellent result. i am expert in writing essays, reports, speeches, researches and all type of projects. i also have a vast knowledge about business, marketing, cost accounting and finance. i am also expert in making presentations on powerpoint and microsoft word. if you need any sort of help in any topic, please dont hesitate to consult with me. i will provide you the best work at a very reasonable price. i am quality oriented and i have 5 year experience in the following field.
matriculation in science topics; inter in computer science; bachelors in business and information technology
_embed src=http://www.clocklink.com/clocks/0018-orange.swf?timezone=usa_albany& width=200 height=200 wmode=transparent type=application/x-shockwave-flash_
4.40+
11+ Reviews
14+ Question Solved
Related Book For
Financial Accounting
ISBN: 978-1337272124
15th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
Question Posted:
Students also viewed these Accounting questions
-
The balance in the equipment account is $678,950, and the balance in the accumulated depreciation- equipment account is $262,200. a. What is the book value of the equipment? b. Does the balance in...
-
The balance in the equipment account is $750,000, and the balance in the accumulated depreciation-equipment account is $425,000. a. What is the book value of the equipment? b. Does the balance in the...
-
The balance in the equipment account is $318,500, and the balance in the accumulated depreciation-equipment account is $113,900. a. What is the book value of the equipment? b. Does the balance in the...
-
When developing a survey instrument for a cross-country study, market researchers often need to construct a scale (e. g., a 7-point disagree/agree scale). What are the major items that one should be...
-
Rubenstein Bros. Clothing is expecting to pay an annual dividend per share of $0.75 out of annual earnings per share of $2.25. Currently, Rubenstein Bros. stock is selling for $12.50 per share....
-
The Condé Nast Traveler Gold List for 2012 provided ratings for the top 20 small cruise ships (Condé Nast Traveler website, March 1, 2012). The data shown below are the...
-
Approximately how long does it take to quadruple an investment of \($1,000\) when the interest rate is 15% per year?
-
Office Mate Supplies Inc. has cash and carry customers and credit customers. Office Mate estimates that 25% of monthly sales are to cash customers, while the remaining sales are to credit customers....
-
Issued a check to establish a petty cash fund of $ 4 , 5 0 0 . Record the transaction in the general journal. ( From the General Ledger module, select Tasks and General Journal to add the entry....
-
The following information pertains to Alan Marshall's personal financial transactions. Opening Balances - September 1, 2019 Cash $12,100 Contents of Home $1,000 Automobile $20,100 House $154,100...
-
The supplies and supplies expense accounts at February 28, after adjusting entries have been posted at the end of the first year of operations, are shown in the following T accounts: Determine the...
-
Prior to closing, total revenues were $12,840,000 and total expenses were $9,975,000. During the year, the owner made no additional investments and withdrew $630,000. After the closing entries, how...
-
The security market line depicts: a. A securitys expected return as a function of its systematic risk. b. The market portfolio as the optimal portfolio of risky securities. c. The relationship...
-
N = 230, n = 15, k = 200, x = 12 A hypergeometric probability experiment is conducted with the given parameters. Compute the probability of obtaining x successes.
-
In your own words, explain the logic behind Formula (1). Formula 1 P(x) = (C) (N-KCn-x) NCn (1)
-
For the past 107 years, a certain state suffered 39 direct hits from major (category 3 to 5) hurricanes. Assume that this was typical and the number of hits per year follows a Poisson distribution....
-
In Michigans Winfall Lottery, a player must choose six numbers between 1 and 49, inclusive. Six balls numbered between 1 and 49 are then randomly selected from an urn. The random variable X...
-
In Michigans Classic Lotto 47 Lottery, a player must choose six numbers between 1 and 47, inclusive. Six balls numbered from 1 to 47 are then randomly selected from an urn. The random variable X...
-
Use the sitting heights listed in Review Exercise 3 to construct a frequency distribution. Use a class width of 10 mm, and use 870 mm as the lower class limit of the first class. When designing a new...
-
In the simple quantity theory of money, what will lead to an increase in aggregate demand? In monetarism, what will lead to an increase in aggregate demand?
-
(a) What is the most important output of the accounting cycle? (b) Do all companies have an accounting cycle? Explain.
-
(a) What is the most important output of the accounting cycle? (b) Do all companies have an accounting cycle? Explain.
-
(a) What is the most important output of the accounting cycle? (b) Do all companies have an accounting cycle? Explain.
-
To set up an optimal portfolio problem considering transactions costs, we need to adjust the expected return of stocks and calculate the transactions-cost-adjusted expected return. Suppose that a $1...
-
How to calculate the average precision (AP) for each adopted query and the mean average precision (MAP), based on both arithmetic and geometric means, must be calculated in terms of interpolated...
-
Using the relative contribution of the B to the overall expected portfolio return, show whether index leverage or single-stock leverage results in better leverage for a portfolio manager who is good...
Study smarter with the SolutionInn App