Determining fixed assets book value Obj. 4 The balance in the equipment account is $3,150,000, and the

Question:

Determining fixed asset’s book value Obj. 4 The balance in the equipment account is $3,150,000, and the balance in the accumulated depreciation—

equipment account is $2,075,000.

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 $2,075,000? Explain.

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