This is possible because Accumulated Depreciation is credited each time that Depreciation Expense is debited. Since Accumulated Depreciation will have a continually increasing credit balance it is referred to as a contra asset account ..
Related posts to accumulated depreciation asset
The write-down of an asset's carrying amount on the balance sheet due to loss of value from usage and age. AKA the story of my life in Public Accounting..
In accountancy, depreciation refers to two aspects of the same concept: The decrease in value of assets fair value depreciation The allocation of the cost of assets .
The cumulative depreciation of an asset up to a single point in its life. Regardless of the method used to calculate it, the depreciation of an asset during a single .
Depreciation recapture is the USA Internal Revenue Service procedure for collecting income tax on a gain realized by a taxpayer when the taxpayer disposes of an asset .