Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac

تمرين 20

Determining fixed asset's book value
The balance in the equipment account is $3,150,000, and the balance in the accumulated depreciation-equipment account is $2,075,000.
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.