D&R Products forecasts that it will require $10,000 for equipment and depreciation will be over 5 years.The $10,000 will be reflected in the balance sheet as _____.
A)inventory
B)gross fixed assets
C)net fixed assets
D)accounts payable

Question

Quizplus · Accepted Answer

The $10,000 for equipment will be recorded as gross fixed assets on the balance sheet, representing the initial cost of the equipment before depreciation.

D&R Products Forecasts That It Will Require $10,000 for Equipment