Question and answer
If an asset account shows a balance of $5,000 for the original cost of the asset, and the Accumulated Depreciation account shows a balance of $2,000, the book value of the asset is $7,000. Answer
Question
Asked 3/22/2013 3:30:27 PM
0 Answers/Comments
This answer has been confirmed as correct and helpful.
f
Get an answer
Original conversation
User: If an asset account shows a balance of $5,000 for the original cost of the asset, and the Accumulated Depreciation account shows a balance of $2,000, the book value of the asset is $7,000. Answer

Weegy: If you record an asset as original cost without the trade value ... Can the accumulated provision for depreciation increase ... [ What balance does an asset account ... ]


User: If an asset account shows a balance of $5,000 for the original cost of the asset, and the Accumulated Depreciation account shows a balance of $2,000, the book value of the asset is $7,000. Answer True False .





Weegy: False. Book value is equal to original cost minus accumulted deprciation. [ If an asset account shows a balance of $5,000 for the original cost of the asset, and the Accumulated Depreciation account shows a balance of $2,000, the book value of the asset is $3,000. ]
Expert answered|debnjerry|Points 45180|

User: If the Owner's Drawing account shows a balance of $3,000 in the ledger and then the owner withdraws an additional $2,000, the new balance in the Owner, Drawing account will be $1,000. Answer True False

Weegy: False. If the Owner's Drawing account shows a balance of $3,000 in the ledger and then the owner withdraws an additional $2,000, the new balance in the Owner, Drawing account will be $4,000.
Expert answered|debnjerry|Points 45180|

Question
Asked 3/22/2013 3:30:27 PM
0 Answers/Comments
This answer has been confirmed as correct and helpful.
New answers
Rating

There are no new answers.

Comments

There are no comments.

Add an answer or comment
Log in or sign up first.
Questions asked by the same visitor
38,922,896
questions answered
GET
Answers.
GET THE APP.
weegy*
*
Get answers from Weegy and a team of really smart live experts.
Popular Conversations
Who was a political organizer that led the independence movement in ...
Weegy: Samuel Adams was a political organizer who the led the independence movement in Boston. User: What was the ...
2/24/2024 1:45:58 AM| 15 Answers
During the Civil War Southern leaders hoped that
Weegy: During the civil war southern leaders hoped that European countries would give their support. User: What ...
2/24/2024 2:15:42 AM| 6 Answers
whats the role of the suns gravity in the solar system
Weegy: 1 + 1 = 2 User: what does einstein's theory of relativity explain Weegy: Einstein's theory of relativity ...
2/24/2024 9:17:58 PM| 6 Answers
How did Ralph Waldo Emerson impact American society?
Weegy: Ralph Waldo Emerson impacted American society by: He led the transcendentalist movement. User: Who invented ...
2/24/2024 1:54:52 AM| 5 Answers
whats was a characteristic of yellow river
2/27/2024 12:15:36 PM| 4 Answers
Spanish explorers who used military force against indigenous peoples ...
Weegy: Spanish explorers who used military force against indigenous peoples while looking for wealth were called: ...
2/23/2024 7:19:10 PM| 4 Answers
Why did Great Britain seize American ships?
Weegy: Great Britain seized American ships because they claimed the ships were carrying French goods. User: What ...
2/24/2024 2:01:34 AM| 3 Answers
What happened to land in America after the Revolutionary War?
Weegy: In America after the Revolutionary War the land: It all became the government's property. User: What happened ...
2/24/2024 1:43:38 AM| 3 Answers
S
L
Points 51 [Total 631] Ratings 0 Comments 51 Invitations 0 Offline
S
L
Points 10 [Total 356] Ratings 0 Comments 10 Invitations 0 Offline
S
L
Points 10 [Total 1471] Ratings 0 Comments 10 Invitations 0 Offline
S
L
P
R
L
P
L
P
P
P
R
Points 8 [Total 17888] Ratings 0 Comments 8 Invitations 0 Offline
S
L
P
Points 7 [Total 3023] Ratings 0 Comments 7 Invitations 0 Offline
S
Points 4 [Total 4] Ratings 0 Comments 4 Invitations 0 Offline
S
L
Points 2 [Total 2195] Ratings 0 Comments 2 Invitations 0 Offline
S
L
Points 1 [Total 1509] Ratings 0 Comments 1 Invitations 0 Online
S
L
Points 1 [Total 204] Ratings 0 Comments 1 Invitations 0 Offline
* Excludes moderators and previous
winners (Include)
Home | Contact | Blog | About | Terms | Privacy | © Purple Inc.