What will be the book value of the asset as at the end of accounting period?

The cost of the asset add amount expensed as depreciation in the current period

No worries! We‘ve got your back. Try BYJU‘S free classes today!

The current worth of the asset

No worries! We‘ve got your back. Try BYJU‘S free classes today!

The cost of the asset

No worries! We‘ve got your back. Try BYJU‘S free classes today!

The cost less accumulated depreciation up to end of accounting period

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Open in App

Solution

The correct option is D
The cost less accumulated depreciation up to end of accounting period

The cost less accumulated depreciation up to the end of accounting period.

Suggest Corrections

Similar questions

Q. On the basis of following information answer the following question.

The balance in accumulated depreciation account of a company at the beginning of year

2008 - 2009

was Rs

2, 00, 000

when the original cost of the assets amounted to Rs

10, 00, 000

. The company charges

10 %

depreciation on a SLM basis for all assets including those which have been either purchased or sold during the year. One such asset costing Rs.

5, 00, 000

which accumulated depreciation as at the beginning of the year of Rs

80, 000

was disposed off during the year.

The balance of the accumulated depreciation account at the end of the year considering the current year's depreciation charge would be ______________.

Q. Assets in the balance sheet are shown at cost less depreciation rather than their replacement cost because of which accounting convention?

The asset has an original cost of Rs. 10,000 and accumulated depreciation of Rs. 8,000. We want to completely eliminate it from the accounting records, so we credit the asset account for Rs. 10,000, debit the accumulated depreciation account for Rs. 8,000, and debit the _____ by _____.

Q. On the basis of following information answer the following question.

The balance in accumulated depreciation account of a company at the beginning of year