Equipment with a cost of $590,000 has an accumulated depreciation of $350,000. What is the book value of the equipment?
A) $306,250
B) $43,750
C) $240,000
D) $120,000

Name: Equipment with a cost of $590,000 has an accumulated depreciation of $350,000. What is the book value of the equipment? A) $306,250 B) $43,750 C) $240,000 D) $120,000
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The book value of the equipment is calculated by subtracting the accumulated depreciation from the cost of the equipment. Therefore, $590,000 - $350,000 = $240,000.

Equipment with a Cost of $590,000 Has an Accumulated Depreciation