Questions: Fill in the Blank Question PPE cost and accumulated depreciation are reported on the

The answer is: balance sheet.

Explanation:

• PPE (Property, Plant, and Equipment) cost and accumulated depreciation are reported on the balance sheet. The balance sheet is a financial statement that provides a snapshot of a company's financial position at a specific point in time. It includes assets, liabilities, and shareholders' equity.

• PPE is considered a long-term asset on the balance sheet. It represents the tangible fixed assets that a company uses in its operations, such as buildings, machinery, and equipment.

• Accumulated depreciation is a contra-asset account that reduces the total value of PPE on the balance sheet. It represents the total depreciation expense that has been recorded against the assets over time.

• By reporting both the cost of PPE and accumulated depreciation, the balance sheet provides a net book value of the company's tangible fixed assets, which is important for assessing the company's financial health and investment potential.