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Nature of Depreciation Custer Construction Co. reported $8,300,000 for equipment and $4,950,000 for accumulated depreciation-equipment...

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Accounting

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Nature of Depreciation Custer Construction Co. reported $8,300,000 for equipment and $4,950,000 for accumulated depreciation-equipment on its balance sheet. a. Does the amount of $8,300,000 reported by Custer represent the replacement cost of equipment? Explain your answer. If your answer is NO then what does it represent? b. Does the accumulated depreciation balance mean that $4,950,000 is set aside in a special fund for the replacement of the equipment

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