The book value of an asset at the beginning of the year was $17,000. The equipment originally cost $27,000. Depreciation expense for the year was $8,000. The book value of the asset at the end of the year is:

Question

Quizplus · Accepted Answer

The book value at the end of the year is calculated by subtracting the depreciation expense from the book value at the beginning of the year: $17,000 - $8,000 = $9,000.

The Book Value of an Asset at the Beginning of the Year