What is the book value of the equipment

Reference no: EM13168870

Determining fixed asset's book value

The balance in the equipment account is $1,375,000, and the balance in the accumulated depreciation-equipment account is $725,000.

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 $725,000? Explain.

Reference no: EM13168870

Questions Cloud

State the entropy change for the reaction : A certain constant-pressure reaction is nonspontaneous at 45oC. The entropy change for the reaction is +72 J/K. What can you conclude about the sign and magnitude of the enthalpy

What is kevins gross profit percentage : What is the gross profit to be recognized in the current year and what is Kevin's gross profit percentage

State the hydrogen carbonate ion can act as an acid : The hydrogen carbonate ion can act as both an acid and a base. Write out two equations which demonstrate this and calculate (or look up) the equilibrium constants for both expressions

State the normal boiling point of liquid bromine : The normal boiling point of liquid bromine is 58.8oC, and its molar enthalpy of vaporization is Delta Hvap = 29.6 kJ/mol. (a) When Br2(l) boils at its normal boiling point, does its entropy increase or decrease?

What is the book value of the equipment : What is the book value of the equipment and does the balance in the accumulated depreciation account mean that the equipment's loss of value is $725,000? Explain.

It is spontaneous- the dissolution of a teaspoon of sugar : For each of the following processes, decide whether it is spontaneous or non-spontaneous.

What is the amortization amount for each intangible asset : How would Vicki's assets be recorded for tax purposes by Palm Corporation and what is the amortization amount for each intangible asset in the current year?

Define international financial reporting standards : Evaluate and summarize the differences between International Financial Reporting Standards (IFRS) and U.S. Generally Accepted Accounting Principles

Sociological term coined by irving janis : What is the sociological term coined by Irving Janis for a limited understand ing of some issue resulting from group conformity?

User Account

All Pages