Homework Answers
Book value of the asset will be derived by original cost of the asset minus accumulated depreciation as on date of balance sheet.
i.e., Book Value = Orignial cost of asset - Accumulated depreciation of asset
In the given solution, assume balance of the building account given is original cost of building. So Values as follows:
Orignial cost = $ 4,500,000
Accumulated deprection of buillding = $ 2,400,000
So Book value of building = $ 4,500,000 - $ 2,400,000
= $ 2,100,000.
Hence Book Value of building is option d i.e., $ 2,100,000.
Add Answer to:
The balance of the building account is $4,500,000, and the balance in the accumulated depreciation building...
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Accounts Payable Accumulated Depreciation-Building Accumulated Depreciation-Leased Building Accumulated Depreciation-Capital Leases Accumulated Depreciation-Equipment Accumulated Depreciation-Leased Equipment Accumulated...
Accounts Payable
Accumulated Depreciation-Building
Accumulated Depreciation-Leased Building
Accumulated Depreciation-Capital Leases
Accumulated Depreciation-Equipment
Accumulated Depreciation-Leased Equipment
Accumulated Depreciation-Leased Machinery
Accumulated Depreciation-Machinery
Advertising Expense
Amortization Expense
Airplanes
Buildings
Cash
Cost of Goods Sold
Deferred Gross Profit
Deposit Liability
Depreciation Expense
Equipment
Executory Costs
Executory Costs Payable
Gain on Disposal of Equipment
Gain on Disposal of Plant Assets
Gain on Lease
Insurance Expense
Interest Expense
Interest Payable
Interest Receivable
Interest Revenue
Inventory
Land
Leased Asset
Leased Buildings
Leased Equipment
Lease Expense
Leased Land...
Determining Fixed Asset's Book Value The balance in the equipment account is $3,150,000, and the balance...
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Determining Fixed Asset's Book Value The balance in the equipment account is $3,050,000, and the balance...
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Accounts Payable
Accumulated Depreciation-Building
Accumulated Depreciation-Leased Building
Accumulated Depreciation-Capital Leases
Accumulated Depreciation-Equipment
Accumulated Depreciation-Leased Equipment
Accumulated Depreciation-Leased Machinery
Accumulated Depreciation-Machinery
Advertising Expense
Amortization Expense
Airplanes
Buildings
Cash
Cost of Goods Sold
Deferred Gross Profit
Deposit Liability
Depreciation Expense
Equipment
Executory Costs
Executory Costs Payable
Gain on Disposal of Equipment
Gain on Disposal of Plant Assets
Gain on Lease
Insurance Expense
Interest Expense
Interest Payable
Interest Receivable
Interest Revenue
Inventory
Land
Leased Asset
Leased Buildings
Leased Equipment
Lease Expense
Leased Land...
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