assume that the equipment was purchased from an unrestricted fund contribution of $8,000.
-What would be the balance in the Capital Fund on December 31,2012?

Question

Quizplus · Accepted Answer

The equipment was purchased for $8,000, and assuming straight-line depreciation over a useful life, the balance in the Capital Fund would be reduced by the depreciation amount. If the equipment depreciates by $2,000 annually, the balance would be $6,000 by December 31, 2012.

Assume That the Equipment Was Purchased from an Unrestricted Fund