Com fin account

Querist : Anonymous (Querist) 22 December 2011 This query is : Resolved
Dear Friends,
Please help to clear my doubt regarding a problem in Company Final Accounts :
An Asset, Viz., Building has a debit balance of Rs. 75,000 and also a credit balance of Rs. 5000. What does the credit balance signify ?
The rate of depreciation is given as 2%. On what amount should the depreciation be calculated and how shall we present the whole thing in the Balance Sheet ?

Thanks & regards.

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