While working on a question in Equity, I stumbled into this and suddently got confused. A quick review is needed if someone could help.
“Beinning accumulateddepreciation = $30; ending accumulated depreciation = $40; Depreciation expense=$27”
I thought $40-$30=$10 would be the depreciation amount. I wonder where the depreciation expese of $27 fit into the picture.
(I appologize if my question is too simple). Thanks.