Cost of property asset minus accumulated depreciation is equal to net book value. T/F
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Cost of property asset minus
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- LO1 Depreciable cost is the difference between the original cost of the asset and its accumulated depreciation.Cost of property asset minus the residual value is equal to net book value. T/Fthe equation for book value is: book value = cost of an asset minus its accumulated depreciation. true or false?
- When is accumulated depreciation reduced to zero? Explain and provide examples for each element (Asset & Liability)Explain the following terms: (a)Depreciation, (b)accumulated depreciation, (c)book value, (d)fixed asset, (e)intangible asset.On the balance sheet, accumulated depreciation is: Group of answer choices subtracted from property and equipment. added to total liabilities. added to property and equipment. subtracted from total liabilities.
- which method of depreciation is used when the cost of an asset is written off in equal amounts over it's expected lifeThe book value of an asset is defined as ____________________. a. Estimated fair market value b. Cost –Accumulated depreciation c. Cost – salvage – accumulated depreciation d. Cost- Salvage valueCompute for the TOTAL amount of Accumulated depreciation for the company's PPE
- The book value of an asset is equal to thea. Replacement cost.b. Asset’s cost less accumulated depreciation.c. Asset’s fair value less its historical cost.d. Historical cost plus accumulated depreciation.After the disposal of an asset, the balance in the Accumulated Depreciation account related to that specific asset is equal to:The cost of an asset that is subject to depreciation is called a.depreciable cost. b.trade-in value. c.salvage value. d.revenue.