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What would be the remaining book value after two years

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Problem 1: A firm bought a machine for £3,200. It is to be depreciated at a rate of 20% using the reducing balance method. What would be the remaining book value after two years?

(A) £1,600
(B) £2,400
(C) £1,800
(D) Some other figure

Problem 2: At the Balance Sheet date the balance on the Accumulated Provision for Depreciation Account is

(A) Transferred to the Depreciation account
(B) Transferred to the Profit and Loss
(C) Simply deducted from the asset in the Balance Sheet
(D) Transferred to the Asset account

Reference no: EM132769208

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