Equipment with a cost of $150,000 has an accumulated depreciation of $100,000.What is the historical cost of the equipment?

Name: Equipment with a cost of $150,000 has an accumulated depreciation of $100,000.What is the historical cost of the equipment?
Brand: Quizplus
Rating: 4.8 (49 reviews)

Question

Quizplus · Accepted Answer

The historical cost of the equipment is its original purchase price, which is $150,000. Accumulated depreciation is the total depreciation expense that has been recorded against the asset, but it does not change the historical cost.

Equipment with a Cost of $150,000 Has an Accumulated Depreciation