to be shown as what types of accounts? Accumulated depreciation Treasury stock A. Contra-asset EquityB. Contra-asset Contra-equityC. Liability Equity 正确答案:B 分享到: 答案解析: Accumulated depreciation is a contra-asset account to the asset account property, plant & equipment. Treasury sto...
What type of revenue is reported in the other income section of the multiple-step income statement? What kind of account is the Dividends account? What is a contra-revenue account? Accumulated depreciation equipment is classified as what type of account?
Accumulated depreciation (and the related depreciation expense) are associated with constructed assets such as buildings, machinery, office equipment, furniture, fixtures, vehicles, etc. Accumulated Depreciation is also the title of the contra asset account. Accumulated Depreciation is credited when ...
What is the most common event that causes the accumulated depreciation account to decrease? What do you understand by depreciation? Accumulated depreciation equipment is classified as what type of account? What is double-declining balance depreciation of $52,000,000 - 0 * 2*(1/4)?
Accumulated depreciation reports the total amount of depreciation that has been reported on all of the income statements from the time that the assets were put into service until the date of the balance sheet. The account Accumulated Depreciation is a contra asset account because it will have...
accumulated depreciation to possess this negative value, which simply indicates that the parent asset has been used long enough to start incurring depreciation expense and has started to lose its value through its usage. The book value of the parent asset as recorded on the accounts minus its ...
For example,accumulated depreciationis a contra account to assets, gradually reducing the book value of equipment or other assets over time. Example – accumulated depreciation: Debit:depreciation expense (reflects the use of an asset). Credit:accumulated depreciation (reduces the asset’s book value...
Accumulated Depreciation Accumulated depreciation is a running total of depreciation expense for an asset that's recorded on thebalance sheet. An asset's original value is adjusted during eachfiscal yearto reflect a current, depreciated value. ...
3. How is an account balanced? 4. What is credit balance? 5. What is debit balance? 6. What are real accounts? 7. Distinguish between real account and real account. 8. What are the nominal accounts? 9. Examine the differences in the balances of different type of accounts. 10. What ...
000. This recaptured amount will be treated as ordinary income when taxes are filed for the year.If the equipment is sold for $12,000, the accumulated depreciation of $8,000 is treated as ordinary income for depreciation recapture purposes. The additional $2,000 is treated as a capital ...