In the straight Line Method of bookkeeping does the carrying amount gradually decrease when the cost of assets is concerned?

In the Straight Line Method of bookkeeping does the carrying method gradually decrease when the cost of assets is concerned? If I haven't myself could someone explain the calculation please?

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  • 1 year ago
    Favourite answer

    Straight Line Depreciation = (Cost – Salvage Value) / Useful Life

    Carrying value = Cost - Depreciation

    Each year the carrying value decreases by the depreciation for the year.

    • Blue nose
      Lv 4
      1 year agoReport

      Thanks as usual!

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  • Don G
    Lv 7
    1 year ago

    The Carrying Value of any asset consists of its original cost less amortization or depreciation to date.

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