What is accumulated depreciation?
Submitted by: AdministratorAccumulated 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.
Submitted by: Administrator
Submitted by: Administrator
Read Online Fixed Assets Job Interview Questions And Answers
Top Fixed Assets Questions
| ☺ | What are fixed asset? |
| ☺ | What is the difference between the different depreciation methods? |
| ☺ | What is the meaning of non performing assets? |
| ☺ | What are the various means of calculating depreciation? |
| ☺ | After run depreciation i have forget calculate depreciation of one asset then how to calculate depreciation of that asset? |
Top Business and Economics Categories
| ☺ | Taxation Interview Questions. |
| ☺ | Economics Interview Questions. |
| ☺ | Accounts Receivable (AR) Interview Questions. |
| ☺ | General Ledger Interview Questions. |
| ☺ | Fixed Assets Interview Questions. |
