The balance in the equipment account is $925,700, and the balance in the accumulated depreciationequipment account is
Question:
(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 $311,100? Explain.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 57% (14 reviews)
a 614600 925700 311100 is the book value of the equipment ...View the full answer
Answered By
Ashington Waweru
I am a lecturer, research writer and also a qualified financial analyst and accountant. I am qualified and articulate in many disciplines including English, Accounting, Finance, Quantitative spreadsheet analysis, Economics, and Statistics. I am an expert with sixteen years of experience in online industry-related work. I have a master's in business administration and a bachelor’s degree in education, accounting, and economics options.
I am a writer and proofreading expert with sixteen years of experience in online writing, proofreading, and text editing. I have vast knowledge and experience in writing techniques and styles such as APA, ASA, MLA, Chicago, Turabian, IEEE, and many others.
I am also an online blogger and research writer with sixteen years of writing and proofreading articles and reports. I have written many scripts and articles for blogs, and I also specialize in search engine
I have sixteen years of experience in Excel data entry, Excel data analysis, R-studio quantitative analysis, SPSS quantitative analysis, research writing, and proofreading articles and reports. I will deliver the highest quality online and offline Excel, R, SPSS, and other spreadsheet solutions within your operational deadlines. I have also compiled many original Excel quantitative and text spreadsheets which solve client’s problems in my research writing career.
I have extensive enterprise resource planning accounting, financial modeling, financial reporting, and company analysis: customer relationship management, enterprise resource planning, financial accounting projects, and corporate finance.
I am articulate in psychology, engineering, nursing, counseling, project management, accounting, finance, quantitative spreadsheet analysis, statistical and economic analysis, among many other industry fields and academic disciplines. I work to solve problems and provide accurate and credible solutions and research reports in all industries in the global economy.
I have taught and conducted masters and Ph.D. thesis research for specialists in Quantitative finance, Financial Accounting, Actuarial science, Macroeconomics, Microeconomics, Risk Management, Managerial Economics, Engineering Economics, Financial economics, Taxation and many other disciplines including water engineering, psychology, e-commerce, mechanical engineering, leadership and many others.
I have developed many courses on online websites like Teachable and Thinkific. I also developed an accounting reporting automation software project for Utafiti sacco located at ILRI Uthiru Kenya when I was working there in year 2001.
I am a mature, self-motivated worker who delivers high-quality, on-time reports which solve client’s problems accurately.
I have written many academic and professional industry research papers and tutored many clients from college to university undergraduate, master's and Ph.D. students, and corporate professionals. I anticipate your hiring me.
I know I will deliver the highest quality work you will find anywhere to award me your project work. Please note that I am looking for a long-term work relationship with you. I look forward to you delivering the best service to you.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Accounting questions
-
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 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...
-
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...
-
Classify each protein example according to its highest level of protein structure. Primary structure the amino acid sequence of myoglobin Secondary structure a single helical chain of collagen Answer...
-
Another type of painted ceramic vessel is called three-circle red-on-white (see reference in Problem 1). At four different sites in the Wind Mountain archaeological region, the number of such sherds...
-
The following are exercises in future (terminal) values: a. At the end of three years, how much is an initial deposit of $100 worth, assuming a compound annual interest rate of (i) 100 percent? (ii)...
-
In what types of organizations and for what purpose are transfer prices used?
-
Troupe Companys predetermined overhead rate is 90% of direct labor. Information on the companys production activities during September 2011 follows. a. Purchased raw materials on credit, $57,000. b....
-
Supreme Videos, Inc., produces short musical videos for sale to retail outlets. The company's balance sheet accounts as of January 1. are given below. Supreme Videos, Inc. Balance Sheet January 1...
-
Camden Company is a retail company that specializes in selling outdoor camping equipment. The company is considering opening a new store on October 1, 2019. The company president formed a planning...
-
The estimated amount of depreciation on equipment for the current year is $1,840. Journalize the adjusting entry to record the depreciation.
-
In a recent balance sheet, Microsoft Corporation reported Property, Plant, and Equipment of $7,223 million and Accumulated Depreciation of $4,179 million. (a) What was the book value of the fixed...
-
"According to Ricardo's analysis, a country exports any good whose production requires fewer labor hours per unit than the labor hours per unit needed to produce the good in the foreign country. That...
-
SQL Sort Ages Your table: maintable_39QB2 MySQL version: 8.0.23 In this MySQL challenge, your query should return the rows from your table where LastName = Smith or FirstName = Robert and the rows...
-
The CEO of AdventureWorks Inc. wants to build a data mart to keep track of the sales orders' lifecycle. Specifically, he wants to know the total number of orders when they are ordered, due, and...
-
The New York Times includes a daily puzzle called "Letter Boxed." It involves a set of 12 letters arranged around the sides of a square, such as the following: N OM K To solve the puzzle, you need to...
-
Calculate the total cost of ownership for on-premises vs. cloud infrastructure specifications listed below and recommend the cost-efficient option for each the usage period of 12, 24, 36, 48, and 60...
-
Compare the Regular Scan Results for ICMP and ARP Traffic with the results from the ping scan. Compare the Intense Scan results with the results from the PING Scan. Ping Scan Zenmap Wireshark ICMP...
-
(a) Design a common-emitter amplifier using a 2N2222A transistor biased at \(I_{C Q}=1 \mathrm{~mA}\) and \(V_{C E Q}=10 \mathrm{~V}\). The available power supplies are \(\pm 15 \mathrm{~V}\), the...
-
Consider a game of poker being played with a standard 52-card deck (four suits, each of which has 13 different denominations of cards). At a certain point in the game, six cards have been exposed. Of...
-
Summarize how the National Institute of Standards and Technology defines the process of software configuration management.
-
Briefly discuss the concept of persuasiveness as it relates to the development of modern internal audit programs.
-
1. MP.06.01 Instructions Chart of Accounts Labels and Amount Descriptions General Journal Income Statement Statement of Owner's Equity Balance Sheet Instructions Elizabeth Soltis owns and operates...
-
Bowers Corporation Comparative Balance Sheets December 31, 20x2 and 20x1 ($ in thousands) 20x2 20x1 Assets Cash +A 84 $ 50 Accounts receivable 91 95 Short-term investment 39 16 Land Inventory...
Study smarter with the SolutionInn App