If equipment cost $20,000 and accumulated depreciation amounts to $6,000, the book value of the equipment is
A)$26,000.
B)$6,000.
C)$14,000.
D)$20,000.
E)none of these.

Question

Quizplus · Accepted Answer

The book value of the equipment is equal to its purchase cost minus the accumulated depreciation, so the book value would be $20,000 - $6,000 = $14,000. Therefore, the correct answer is C.

If Equipment Cost $20,000 and Accumulated Depreciation Amounts to $6,000