Determining Fixed Asset's Book Value The balance in the equipment account is $3,400,000, and the balance in the accumulated depreciation-equipment account is $1,768,000. 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 $1,768,000? because depreciation is an allocation of the of the equipment to the periods benefiting from its use. Yes No Determining Fixed Asset's Book Value The balance in the equipment account is $3,400,000, and the balance in the accumulated depreciation equipment account is $1,768,000. 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 $1,768,000? because depreciation is an allocation of thel of the equipment to the periods benefiting from its use. cost loss of value