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Chapter 9

Tangible assets are held in the books at "original cost less accumulated depreciation". So a building might be held at £500k - 150k = 350k book value. If that building is sold, the original cost is removed from the trial balance, and the accumulated depreciation is also removed from the accounts. This represents a negative in the depreciation table.
 
Thank you for clarifying.

I have another doubt. In the statement of financial position for a particular year, do we subtract the accumulated depreciation from the asset or only the depreciation for that particular year?
 
We dont subtract it again. I am not sure what your question is here - perhaps it would be better if you could put some numbers together as to how you see the depreciation building up against a tangible asset, and how it disappears when the asset is sold. Then I can see where your problem lies.
 
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