depreciation

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November 22, 2023 at 11:13 pm #695285
oedipatc
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On the Trial balance I am give the value of building of 80000 with the accumulated depreciation of 22500 and the information that it is depreciated with 4% per annum -straight line basis. No scrap value or number of years that it is being depreciated are given. I am correct assuming that the depreciation for the financial year should be 4% of 80000?
November 23, 2023 at 8:57 am #695302
John Moffat
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On the basis of what you have typed then what you assume is correct. Straight line depreciation is calculated on the original cost.

However to be certain I would need to see the exact question.
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