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 why is accumulated depreciation an asset
Having an asset account such as Accumulated Depreciation allows a company's balance sheet to easily report both 1 the amount of an asset's cost that has been .
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 .
A decrease in accumulated depreciation will occur when an asset is sold, scrapped, or retired. At that point, the asset's accumulated depreciation and its cost are .
How to Calculate Monthly Accumulated Depreciation Depreciation can be calculated on a monthly basis by two different methods..