0
What else can I help you with?
The balance of accumulated depreciation account represents the?
amount charged to depreciation expense since the acquisition of the plant asset.
The balance in the Accumulated Depreciation account represents the?
amount charged to expense since the acquisition of the plant asset.
Accumulated depreciation in Accounting?
Accumulated depreciation is contra account to fixed asset to show how much amount of depreciation is charged till date from date of purchase and it is shown in balance sheet in liabilities side or as a deduction from fixed asset in asset side.
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.
What are the types of depreciation?
There are three types of depreciation. Fixed Installment, Diminishing balance and Component Depreciation.
What kind of accounting convention uses the acquisition cost minus depreciation in valuing an asset on the balance sheet?
Cost benefit
What accounting convention uses the acquisition cost minus depreciation in valuing an asset on the balance sheet?
Type your answer here... Book value
The balance of accumulated depreciation account represents the?
amount charged to depreciation expense since the acquisition of the plant asset.
The balance in the Accumulated Depreciation account represents the?
amount charged to expense since the acquisition of the plant asset.
What is Use of acquisition cost less depreciation in valuing an asset on the balance sheet?
the term "cost less depreciation" on a Balance Sheet, means the Cost - of the asset when purchased or installed, including all costs related to acquisition less - minus the total value of Depreciation to the date of the Balance Sheet. It is used to compute the net value of the asset for the benefit of the share holders of the company or for the actual value of the item, if it is being purchased.Joe
What is depreciation and what difference between accumulated depreciation and depreciation expanes and where these adjustd in accounting system?
When a company buys an asset they have to spread the cost of the asset over it's useful economic lifetime, this is done with depreciation. The accumulated depreciation is the depreciation from previous years and the charge for the year is the amount being depricated that year, which will be charged to the profit and loss. The assets will shows as a debit balance while depreciation will show as a credit balance in the balance sheet. When charge the depreciation for the year you would credit the balance sheet and debit the profit and loss. So after the asset has come to the end of it's useful economic lifetime the value in the balance sheet will become zero or close to it as the credits of depreciation will cancel out the debit if the asset value.
Accumulated depreciation in Accounting?
Accumulated depreciation is contra account to fixed asset to show how much amount of depreciation is charged till date from date of purchase and it is shown in balance sheet in liabilities side or as a deduction from fixed asset in asset side.
What is the normal balance of accumulated depreciation?
the normal balance of accumulated depreciation is "credit"
Could you explain Accounting 101?
Typically, it involves the theory of credit and debit, balance sheets, income statements, controlling accounting accounts, subsidiary ledgers, work sheets, depreciation methods, and basically financial accounting theory.
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.
What are the types of depreciation?
There are three types of depreciation. Fixed Installment, Diminishing balance and Component Depreciation.
Is the accumulated depreciation negative on the balance sheet?
No, accumulated depreciation is not negative on the balance sheet. It represents the total depreciation expense recorded for an asset over time.
