Does the balance in the accumulated depreciation account mean that the equipment’s loss of value is $725,000? Explain?
It says, the balance in the equipment account is $1,375,000 and the balance in the accumulated depreciation–equipment account is $725,000. a) what is the book value of the equipment? b) Does the balance in the accumulated depreciation account mean that the equipment’s loss of value is $725,000? Explain?