Cost of the asset$100,000
Life of the asset 5 years
Depreciation rate20%
Capital cost allowance rate 50%
Residual value of the asset nil
Income tax rate 50%
-The _________________________ is a statement that ensures that the general ledger is in balance (debit transactions = credit transactions).

Question

Cost of the asset$100,000 
Life of the asset 5 years 
Depreciation rate20% 
Capital cost allowance rate 50% 
Residual value of the asset nil 
Income tax rate 50%
-The _________________________ is a statement that ensures that the general ledger is in balance (debit transactions = credit transactions).

Quizplus · Accepted Answer

The Answer of Cost of the asset$100,000 
Life of the asset 5 years 
Depreciation rate20% 
Capital cost allowance rate 50% 
Residual value of the asset nil 
Income tax rate 50%
-The _________________________ is a statement that ensures that the general ledger is in balance (debit transactions = credit transactions).

Cost of the Asset$100,000