Lakeland Corporation owns a machine that is fully depreciated but is still being used. How should Lake

Question:

Lakeland owns a machine that is fully depreciated but is still being used. How should Lake land account for this asset and report it in the financial statements?

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...