Equipment with a cost of $152,000 has an accumulated depreciation of $59,000. What is the historical cost of the equipment?
A) $152,000
B) $59,000
C) $211,000
D) $93,000

Question

Quizplus · Accepted Answer

The historical cost of the equipment is its original purchase price, which is $152,000. Accumulated depreciation is a separate accounting figure that shows the depreciation expense accumulated over time and does not affect the historical cost.

Equipment with a Cost of $152,000 Has an Accumulated Depreciation