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Does accumulated depreciation have a natural debt or credit balance?
Wiki User
∙ 14y ago
Accumulated Depreciation normally has a credit balance and because it is shown on the asset (ie debit) side of the Balance Sheet, it is called a "contra-account"
Wiki User
∙ 14y ago
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Accumulated depreciation debit or credit?
Accumulated depreciation is a contra account for specific fixed asset so fixed assets has debit balance as normal balance so accumulated depreciation has credit balance as default balance.
How do you record annual depreciation and accumulated depreciation?
[Debit] Depreciation expense[Credit] Accumulated depreciationAfter that depreciation is shown as part of income statement while accumulated depreciation goes to balance sheet.
The type of account and normal balance of accumulated depreciation is?
contra asset account, credit balance
Does accumulated depreciation maintain a debit balance?
No - its a contra asset so it maintains a credit balance.
Do accumulative depreciation has a debit balance?
Accumulated depreciation is a contra account to asset account to reduce the actual value of fixed asset so accumulated depreciation has a credit balance as a default balance which is reverse of fixed asset’s debit balance.
What is the normal balance of accumulated depreciation?
the normal balance of accumulated depreciation is "credit"
Accumulated depreciation debit or credit?
Accumulated depreciation is a contra account for specific fixed asset so fixed assets has debit balance as normal balance so accumulated depreciation has credit balance as default balance.
Is Accumulated depreciation debit or credit?
Accumulated depreciation is a contra to related asset so if asset has a debit balance then it has credit balance to reduce the related asset's value.
How do you record annual depreciation and accumulated depreciation?
[Debit] Depreciation expense[Credit] Accumulated depreciationAfter that depreciation is shown as part of income statement while accumulated depreciation goes to balance sheet.
The normal balance of the accumulated depreciation account is debit?
False. Normal Credit Balance.
If the accumulated depreciation account normally has a credit balance is it a liability?
false.
Does accumulated depreciation maintain a debit balance?
No - its a contra asset so it maintains a credit balance.
The type of account and normal balance of accumulated depreciation is?
contra asset account, credit balance
Do accumulative depreciation has a debit balance?
Accumulated depreciation is a contra account to asset account to reduce the actual value of fixed asset so accumulated depreciation has a credit balance as a default balance which is reverse of fixed asset’s debit balance.
What is the journal entry accumulated depreciation?
[Debit] Depreciation account [Credit] Accumulated depreciation
What kind of account is accumulated depletion?
Accumulated Depreciation is a contra-asset account. It is included with assets on the trial balance and Balance Sheet, however, it has a normal credit balance.
Is Accumulated depreciation account is an expense account?
No. Accumulated Depreciation is a contra-account which appears on the asset side of the Balance Sheet. It is a credit balance account which reduces the value of Fixed Assets to reflect their declining value due to age and use. The normal offset to an entry to the Accumulated Depreciation account is a debit to Depreciation Expense.
