How to write off assets on an income statement?
Say the equipment was invested at $1,000,000. If i have to write off the cost of the equipment this year because it has no salvage value. Will it be -1,000,000 on the income statement?
If the projected equipment depreciation was 150,000, will that be included in the income as well? or is it irrelevant since you're writing off the asset?
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