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In the declining balance method, what is the depreciation rate applied?
In the declining balance method, what is the depreciation rate applied?
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Practice Questions
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Q1
In the declining balance method, what is the depreciation rate applied?
Fixed rate
Variable rate
Percentage of book value
Percentage of cost
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In the declining balance method, the depreciation rate is applied to the book value of the asset, which decreases over time.
Questions & Step-by-step Solutions
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Q
Q: In the declining balance method, what is the depreciation rate applied?
Solution:
In the declining balance method, the depreciation rate is applied to the book value of the asset, which decreases over time.
Steps: 5
Show Steps
Step 1: Understand that the declining balance method is a way to calculate how much an asset loses value over time.
Step 2: Know that the depreciation rate is a percentage that you apply to the current value of the asset.
Step 3: Realize that the book value of the asset starts at its original cost and decreases each year as you apply the depreciation.
Step 4: Apply the depreciation rate to the book value to find out how much value the asset loses in that year.
Step 5: Repeat this process each year, using the new book value to calculate the next year's depreciation.
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