What is accumulated depreciation?

what kind of account is accumulated depreciation

Asked on: Nov 28th, 2006

    Showing 1 - 7 of 7 Ans
    gayatri bajpai

    Answered On. Nov 30th, 2006

    Hi, I am gayatri. In my opinion accumulated depreciation is the amount of depriciation from day one to till date on an asset. In other words it is the total of depriciation given on fixed asset from its date of purchase.Gross amt-accumulated depriciation = Net value of asset

    Answered On. Nov 30th, 2006

    Accumulated depreciation is the write-down of an asset's carrying amount on the balance sheet due to loss of value from usage and agewith regardsRamesh.S

    Answered On. Feb 13th, 2007

    Accumulated depreciation is contra account in Assets section of Balance sheet. That means, assets normally have debit balance but Accumulated depreciation has credit balance. This is a unique type of

    account and it serves the purpose of showing the viewers the original amount of assets and the resulting depreciation on those assets. Acc dep is also an ingredient in depreciation journal entry. Where Depreciation expese is debited and acc dep is credited.

    Answered On. Apr 5th, 2007

    This is the depreciation same like as normal depreciation but won't deduct from the asset account. we create another special account named Accumulated Depreciation Account. when the asset value comes until 0 then these two accounts will be closed.

    Answered On. Aug 24th, 2007

    Accumulated depreciation is the depreciation where the depreciation amounts gets accumulated & at the end it will be deducted from the concerned assets.

    answers

    The total amount of depreciation accumulated over the years from the date the asset was put to use to till date

    Source: www.geekinterview.com

    Category: Forex

    Similar articles: