Dear sir, I'm finding it hard to understand this question
The asset register shows a carrying value for NCA of $ 85600; the ledger accounts include a cost balance of $185000 and an accumulated depreciation balance of $55000. What explains the discrepancy?
Non Current Asset
10y ago#1The carrying value in the asset register (of 85,600) should be the same as the carrying value in the accounts (185,000 - 55,000 = 130,000). Since they are different, it means that either something is wrong in the asset register or something is wrong in the accounts.