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    Treatment of accumulated depreciation?

    Asked May 9, 2011, 02:16 AM 1 Answer
    If accumulated depr. Is given in the adjustment, then how do we treat that depr. In balance sheet & p\l a\c.

    Last edited by Curlyben; May 9, 2011 at 02:27 AM.
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    May 9, 2011, 08:38 AM

    Not quite sure what you are asking here but I'll answer what I think is the question. If you were looking for something different, please post again and clarify your question.

    The adjustment to record depreciation is:

    Debit Depreciation Expense
    Credit Accumulated Depreciation

    Depreciation Expense is found on the Income Statement. Accumulated Depreciation is found on the Balance Sheet under the Fixed Asset section. The account credited monthly for depreciation until the allowed depreciation per asset is met, meaning the account grows over time. Another way to say this is: the depreciation that has taken place on a particular asset up to the present time. When you subtract accumulated depreciation from an asset, you come up with the net book value of the asset.
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