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What the book value of the equipment on january would be

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Reference no: EM132944235

Problem 1: Accumulated Depreciation-Equipment would be reported on which financial statement?

A. Income Statement as an expense

b. Balance Sheet as a liability

c. Balance Sheet subtracted from the Equipment account

d. Owner's Equity Statement.

Problem 2: Tony's Services purchased Equipment on January 1 for $12,000. Depreciation was recorded on January 31 in the amount of $1,000.  The book value of the Equipment on January 31 would be:

a. $12,000

b. $11,000

c. $12,500

d. $13,000

Reference no: EM132944235

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