Cullumber Company owns delivery equipment that cost $49,700 and has accumulated depreciation of $24,800 as of July 30, 2020. On that date, Cullumber disposes of this equipment. For parts b - d below, enter D for debit or C for credit in the first box and the amount in the second box. What is the net book value of the equipment on July 30, 2020

The net book value of the equipment on July 30, 2020 is $24,900.

Explanation:

The net book value can be calculate using the following formula:

Net book value =  Cost of the equipment - Accumulated depreciation …………………… (1)

Where:

Cost of the equipment = $49,700

Accumulated depreciation = $24,800

Substituting the values into equation (1), we have:

Net book value = $49,700 - $24,800 = $24,900

Therefore, the net book value of the equipment on July 30, 2020 is $24,900.

the answer is "b.the increased supply will create a surplus. "

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