Depreciated Book Value Law and Legal Definition

Depreciated book value means the cost price of the personal property acquired less the depreciation set up on the books in a regular and consistent manner for reflecting such depreciation, including a reasonable allowance for obsolescence. The cost price of the personal property acquired includes the cost of installation entered on the books of the company in the ordinary course of business. [Wheeling Steel Corp. v. Evatt, 143 Ohio St. 71 (Ohio 1944)].