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The book value of an asset is defined as? 1. cost minus salvage value 2. cost minus accumulated depreciation. 3. estimated fair market value?

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Question added by Deleted user
Date Posted: 2013/06/21

Book velue = Cost of asset - Accumilated depreciation

2 cost minus accumilated deprciation.

Ahmed Tharwat
by Ahmed Tharwat , general accountant , Ocean Kitchen Furniture Fix IND.LLC

Cost minus Accumulated Depreciation

AYMAN EL KASHLAN
by AYMAN EL KASHLAN , ACCOUNTS MANGER , MODERN OFFICE FOR POULTERY

COST MINUS ACCUMULATED DEPRECIATION

Khaled Abdelrehim ACCA DipIFR CMA
by Khaled Abdelrehim ACCA DipIFR CMA , Financial Analysis Assistant General Manager , Khalda Petroleum Company

cost minus accumulated depreciation

Prince Ninan
by Prince Ninan , Audit Executive , Lewis & Pecker

Cost minus Accumulated depreciation

Fouzan Qadeer
by Fouzan Qadeer , Corporate Financial Analyst , Balubaid Group

Answer is2.

The book value of an asset is the asset’s cost minus the asset’s accumulated depreciation. For example, in the general ledger account, Automobile, is the automobile’s cost of $22,000. In the contra asset account, Accumulated Depreciation on Automobile, is a credit balance of $16,000. The net of those two amounts ($22,000 minus $16,000) is the book value or the carrying value of the automobile. In this example the $6,000 is the amount being reported on the company’s books.

http://blog.accountingcoach.com/book-value-assets-liability-corporation/

mohamed mansour
by mohamed mansour , chief accountant , el khatab Co for mills.

I think that will up on which method the Co follow if the Co follow cost method it will be the cost minus Accumulated Depreciation but if the Co follow fair value method it will be The estimated fair value .

Muhammad Waqas
by Muhammad Waqas , Accountant , Rafiq & Sons

2 cost minus accumilated deprciation.

Book velue = Cost of asset - Accumilated depreciation

BOOK VALUE = COST OF ASSET - ACCUMULATED DEPRECIATION

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