On april 1 2007 m corporation paid 48000 cash for equipment, Ask an Expert

Accounting

On April 1, 2007, M Corporation paid $48,000 cash for equipment to be used in business operations. The equipment will be used for 4 years. M records depreciation expense of $9,000 for the calendar year ending December 31, 2007. Which accounting principle has been violated?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M973318

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