Question

The cost of the asset is 200000.under diminishing balance method,the depreciation is provided at 20%.at the end of the third year,the balance of the asset account is?

Answer 1

As such, the balance sheet is divided into two sides (or sections).

Answer 2

Explanation:

With the diminishing balance method, depreciation is calculated as a percentage on the book value of the tangible asset. The book value is the real value of the asset. The real value of the asset is the cost price minus the depreciation written off to date.