The balance in the equipment account is 28650000 and the, Financial Accounting

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The balance in the equipment account is 28650000 and the

The balance in the equipment account is $28,650,000, and the balance in the accumulated depreciation—equipment account is $16,430,000.

a. What is the book value of the equipment? $

b. Does the balance in the accumulated depreciation account mean that the equipment's loss of value is $16,430,000?

YES/NO? because depreciation is an allocation of the COST/LOSS OF VALUE? of the equipment to the periods benefiting from its use.

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Financial Accounting: The balance in the equipment account is 28650000 and the

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