The balance in the equipment account is $28,650,000, and the balance in the accumulated depreciation-equipment account is

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The balance in the equipment account is $28,650,000, and the balance in the accumulated depreciation-equipment account is $16,430,000.
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 $16,430,000? Explain.
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Accounting

ISBN: 978-1285743615

26th edition

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

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