What is the book value of the equipment, Accounting Basics

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What is the book value of the equipment

The balance in the equipment account is $678,950, and the balance in the accumulated depreciation-equipment account is $262,200.

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 $262,200? Explain.

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Accounting Basics: What is the book value of the equipment

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Accounting Basics: What is the book value of the equipment

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