For some of the fixed assets of a business, the balance in Accumulated Depreciation is exactly equal

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For some of the fixed assets of a business, the balance in Accumulated Depreciation is exactly equal to the cost of the asset.
(a) Is it permissible to record additional depreciation on the assets if they are still useful to the business? Explain.
(b) When should an entry be made to remove the cost and the accumulated depreciation from the accounts?

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Corporate Financial Accounting

ISBN: 9781337398169

15th Edition

Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac

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