The accumulated depreciation account is an asset account with a credit balance also known as a contra asset account ; this means that it appears on the balance sheet as a reduction from the gross amount of fixed assets reported..
Related posts to less accumulated depreciation
An asset's carrying value on the balance sheet is the difference between its purchase price and accumulated depreciation. A company buys and holds an asset on the balance sheet until the salvage value matches the carrying value..
On the balance sheet, an asset that is new will have no accumulated depreciation. The $10,000 machine will show up on the balance sheet included in Property, Plant, and Equipment as $10,000. But over the years, the machine decreases in value cost by the amount of depreciation expense..
Fixed Assets less Accumulated Depreciation By John A. Tracy Fixed assets is the all-inclusive term for the wide range of long-term operating assets used by a business from buildings and heavy machinery to office furniture..
Accumulated depreciation is the total depreciation for a fixed asset that has been charged to expense since that asset was acquired and made available for use..