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

Book velue = Cost of asset - Accumilated depreciation

2 cost minus accumilated deprciation.

Cost minus Accumulated Depreciation

COST MINUS ACCUMULATED DEPRECIATION

cost minus accumulated depreciation

Cost minus Accumulated depreciation

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.

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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 .

2 cost minus accumilated deprciation.

Book velue = Cost of asset - Accumilated depreciation

BOOK VALUE = COST OF ASSET - ACCUMULATED DEPRECIATION