How do you calculate the accumulated depreciation of an asset using a percentage in a straight line method,, given also the cost and accumulated depreciation of that asser?

To calculate the accumulated depreciation of an asset using a percentage in a straight-line method, you need to know the cost of the asset and the accumulated depreciation.

The formula to calculate accumulated depreciation is:

Accumulated Depreciation = (Cost of Asset) x (Depreciation Rate)

Here's how you can calculate it:

1. Determine the depreciation rate: The depreciation rate is usually given as a percentage per year. For example, if the depreciation rate is 10%, you would use 0.10 in the formula.

2. Calculate the accumulated depreciation: Multiply the cost of the asset by the depreciation rate. For example, if the cost of the asset is $10,000 and the depreciation rate is 10%, the accumulated depreciation would be:

Accumulated Depreciation = $10,000 x 0.10 = $1,000

So, the accumulated depreciation of the asset would be $1,000.

Note: Accumulated depreciation is the total depreciation expense recorded for an asset since its acquisition. It represents the decrease in the value of the asset over time.