College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
12th Edition
ISBN: 9781305084087
Author: Cathy J. Scott
Publisher: Cengage Learning
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Textbook Question
Chapter 4, Problem 7QY

Accumulated Depreciation, Equipment is reported

  1. a. on the income statement as an expense.
  2. b. on the balance sheet as an addition to total assets.
  3. c. on the income statement as a revenue.
  4. d. on the balance sheet as a subtraction from the related asset account.
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Students have asked these similar questions
Accumulated depreciation, equipment is reported:  Select one: On the balance sheet as a subtraction from the related asset account On the income statement as an expense On the balance sheet as an addition to total assets On the income statement as revenue
The accounting treatment for depreciation expense in the balance sheet will be: a. Added to the corresponding long term liability b. Added to the corresponding non-current asset c. Deducted from the corresponding long term liability d. Deducted from the corresponding non-current asset
Accumulated depreciation is:     The depreciation expense recorded on an asset to date.     The remaining book value of an asset.     The depreciation expense taken on an asset during the current period.     An expense on the income statement.

Chapter 4 Solutions

College Accounting (Book Only): A Career Approach

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