Accumulated depreciation is a: a. contra asset account. b. contra revenue account. c. unearned revenue account. d. expense account. When a seller records a return of goods, the account that is credited is a. Sales Revenue. b. Sales...
For example, Accumulated Depreciation is a contra asset account that is associated with asset accounts for buildings, equipment, vehicles, etc. The asset accounts have debit balances, but the related account Accumulated Depreciation will have a credit balance. Examples of a Contra Account Assume ...
aThe ALL ,Which is a contra-asset(negative)account,represents an accumulated reserve against which loans declared to be uncollectible can be charged off. 所有,是财产(消极)帐户,代表贷款宣称uncollectible的一种积累储备可以被充电。[translate]
The normal balance for a contra-asset account would be which of the following? a. a credit b. a debit c. sometimes a debit and sometimes a credit d. never a debit and never a credit An asset account will normally have a: a. A debit balance b. There is ...
Accounts receivable is a permanent account. a. True b. False The allowance for bad debts is a contra asset account to accounts receivable. Is the statement true or false? All Accounts Receivable will result in the intake of cash. True or False. ...
athe asset is decreased and owner's equity is decreased by an expense. actual practice uses a contra-asset account called accumulated depreciation instead of long-term asset. 财产被减少,并且责任人权益由费用减少。 实际实践使用财产帐户称积累贬值而不是长期财产。[translate]...
An account linked with another account that has an opposite normal balance and that is subtracted from the balance of the related account is a(n): <br/> A、Accrued expense.<br/> B、Contra account.<br/> C、Accrued revenue.<br/> D、Intangible asset.<br/> E
1. Prepaid Expense Asset: This asset account is used to record the costs paid in advance for future benefits or services. An adjusting entry is made to decrease the prepaid expense asset account, reflecting the portion of the prepaid expense that has been consumed or utilized during the accoun...
(reducing) that specific asset account. Alternatively, depreciation is recorded by crediting an account calledaccumulated depreciation, acontra assetaccount. The historical cost of fixed assets remains on a company's books; however, the company also reports this contra asset amount as a net reduced ...
Depreciation Expense is sometimes referred to as a non-cash expense. True False Accounting true or false questions 6.The sales discount account is a contra account to Sales 7.Interest expense is an example of an expense classified under "other expense". 8.Merchandise inven...