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accumulated depreciations are recorded in the liability side of the balance sheet as a deduction from concerned assets. it also shows in the debit side of profit and loss account as an expence
Wiki User
∙ 14y ago
Wiki User
∙ 13y agogoes on current liability as income tax payable
Wiki User
∙ 12y agoDepreciation belongs on the Income Statement.
Accumulated Depreciation belongs in the Fixed Assets section of the Balance Sheet
Wiki User
∙ 14y agoWhat is Depreciation Reserve?
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Where does revaluation reserve go on the balance sheet?
Revaluation reserve is part of equity of business as shown under equity section in liability section of balance sheet.
Where does accumulated depreciation go?
Depreciation expense is part of income statement all other expenses are also part of income statement and that's the main purpose of preparing income statement to show all incomes and expenses.
Does buildings go on the balance sheet?
Yes, buildings are typically included on a company's balance sheet as a long-term asset. They are recorded at their historical cost less any accumulated depreciation, and their value is listed under the "property, plant, and equipment" section.
Does accrued depriciation go in asset non current where you subtract?
Accumulated Depreciation is a contra-account, meaning it is shown as a negative, in the Fixed Asset section of the Balance Sheet.
Where do fix assets go on a balance sheet?
they fall in the first column of a balance sheet
Where do fixed assets go on balance sheet?
they fall in the first column of a balance sheet
Does a liability account go on a balance sheet?
Liabilities are included on the credit side of the balance sheet.
Where does stationary go on a balance sheet in business studies?
Stationery, as an accounting item, does not appear on a business Balance Sheet. The Balance Sheet is reserved for assets and liabilities. The Income Statement reflects income and expenses and because Stationery is an expense item it will appear on the Income Statement and not the Balance Sheet.
Do expenses go on a balance sheet?
no
Do drawings go on a balance sheet?
yes
Where does interest go on balance sheet?
Interest is part of income statement and shown in income statement and not part of balance sheet.
Does accounts receivable go on a balance sheet as liabilities and equity?
Accounts receivable would appear as an asset (+) on a balance sheet.
