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16 May, 01:22

A company purchased a piece of equipment for $350,000 in 2008. As of 12/31/2015, $215,000 of depreciation expense had been recognized against this piece of equipment. What is the equipment's net book value on 12/31/2015?

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  1. 16 May, 04:35
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    The equipment's net book value on 12/31/2015 is $ 135000.

    Explanation:

    Net book value of the equipment on 12/31/2015 is given by:

    Net book value = cost of the equipment - depreciation expense recognized until 12/31/2015

    = $ 350000 - $ 215000

    = $ 135000

    Therefore, the equipment's net book value on 12/31/2015 is $ 135000.
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